GBP/EUR: Brexit Uncertainty Keeps Pound Demand Low vs. Euro

The Pound Euro (GBP/EUR) exchange rate is trading 0.2% higher at €1.1650.

The Pound was boosted on Monday by the re-opening of the UK economy and by comments from the UK Health Secretary, Matt Hancock suggesting that the vaccine does offer protection from the covid variant from India.

Today, data is back in focus with the release of UK unemployment figures. Analysts expect the unemployment rate to remain relatively low at 4.9% as the government’s furlough scheme continues to prop up the labour market.

Eurozone GDP data is likely to be a central focus for Euro investors. Expectations are for a -0.6% contraction quarter on quarter.