The Pound Euro (GBP/EUR) exchange rate is heading higher paring some losses from last week.
The Pound fell sharply on Friday in risk off trading as concerns over the new COVID strain Omicron saw investors sell out of riskier assets and currencies, such as the Pound.
Today the market mood has improved as Omicron fears ease slightly. COVID headlines will continue to move the Pound.
The UK economic calendar is quiet today.
The Euro rose of Friday after data revealed that business activity in the Eurozone economy grew in November compared to October. Retail sales also beat expectations at 1.4% YoY.
There is no high impacting eurozone data due today.
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