GBP/EUR: Brexit Nerves Weigh On Pound

The Pound Euro (GBP/EUR) exchange rate is moving higher after a quiet previous session.

The Euro was under pinned by an upward revision in German GDP Q2 to 1.6% up from 1.5% QoQ. Annually GDP was upgraded to 9.4%, up from 9.2%.

The German IFO business climate survey will be in focus. Expectations are for a mild tick lower to 100.4 down from 100.8.

The Pound found support from upbeat BRC retail sales figures which surged to a seven year high.

There is no high impacting UK data today. However, COVID cases remain elevated and deaths are at the highest level since late March which could cap gains in sterling.