20-10-eur-bank-notes - EUR

The Pound Euro (GBP/EUR) exchange rate is edging lower after steep losses yesterday.

The Pound came under pressure as UK – French post Brexit fishing relations deteriorated further. However, a move by the French government to put off sanction on the UK for now has helped improve the tone surrounding the Pound.

The Euro dismissed disappointing German retail sales, which slumped -2.5% year on year in September and instead found support from a weaker US Dollar.

Today German and Eurozone manufacturing PMI data is in focus. These are expected to show only a very slight deceleration in growth from September.