GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The Pound Euro (GBP/EUR) exchange rate is extending gains for a third straight session.

The Pound advanced in the previous session despite PMI data revealing that the post pandemic economic rebound in the UK was slowing. The latest composite PMI data slowed to 55.3 in August down from 59.6 in July. This was also short of the 59 forecast.

There is no high impacting UK data due today.

All eyes will be on German GDP data the second reading for the second quarter. Analysts are expecting a confirmation of 1.5% quarter on quarter growth, and 9.2% year on year growth.