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

The Pound Euro (GBP/EUR) exchange rate is edging higher after steep losses on Thursday.

The Pound dropped sharply in the previous session amid concerns over rising covid cases and as Brexit tensions escalated after a period of relative calm.

UK GDP data for the three months to May will be released. Expectations are for GDP growth of 3.9%, up from 1.5%.

The Euro found strength from the softer tone surrounding the US Dollar after weaker than forecast jobless claims.

The Euro also managed to remain firm even as the European Central Bank moved the inflation target back to 2%.

The release of the minutes to the latest ECB meeting could attract some attention today.