euro-bank-notes - EUR

The Pound Euro exchange rate is heading higher, retaking €1.18 after steep losses at the end of last week.

News of a new covid variant from Southern Africa, Omicron, which has mutated so much that scientists fear that it could potentially evade vaccines sent the pound tumbling on Friday

UK PM Boris Johnson along with other countries tightened travel restrictions from six southern African nations.

With no high impacting data due to be released covid headlines could drive the pound.

The Euro surged on Friday thanks in part to a tumbling US Dollar as investors questioned the Fed’s ability to raise interest rates.

German inflation data and Eurozone consumer confidence will be under the spotlight today. German inflation is expected to keep rising.