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

The Pound Euro (GBP/EUR) exchange rate is ticking a few pips higher on Thursday for a second day.

The Pound shrugged off mixed data in the previous session. Instead, investors focused on the fact that the UK was still on track to ease all covid restrictions on 21st June, despite rising covid cases. The death toll dropped to 0 for the first time since last summer thanks to the vaccine rollout.

Service sector PMI numbers will be in focus for the both the UK and the Eurozone. Both are expected to show that activity in the service sector rose firmly in both regions in May as the UK economy reopened and parts of the Eurozone eased some restrictions after the third wave of covid.