GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro (GBP/EUR) exchange rate is extending gains from the previous week.

Today, the UK continues along its re-opening path with inside hospitality restarting. Bars, pubs and restaurants will throw open their doors to inside trade for the first time in almost 6 months. This will help the UK economy to continue to bounce back from its almost 10% contraction last year.

UK unemployment, CPIA and retail sales are all due later this week.

The Euro is being supported by the accelerating vaccine drive in the region. The European Central Bank is starting to sound more upbeat regarding the outlook for the bloc.

Eurozone GBP data on Tuesday and PMI data at the end of the week will be the main points of focus.