GBP/EUR: UK Politics & German Sentiment Data To Drive Movement

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

The Euro slipped lower in the previous session after German IFO sentiment data revealed that the German economic recovery could be losing momentum. Business sentiment declined to 99.4 from 100.8.

Dovish comments from ECB chief economist Philip Lane also dragged on demand for the common currency.

ECB minutes to the latest meeting will be in focus.

The Pound is managing to shrug off supply chain problems caused by a shortage of truck drivers from Brexit, which is leaving supermarket shelves empty.