gbp-british-pound-coins - GBP

The Pound Euro (GBP/EUR) exchange rate is heading lower on Wednesday after gains earlier in the week.

Omicron headlines continue to drive the market. Yesterday the optimistic mood supported the Pound.

The BoE could adopt a wait and see attitude for monetary policy due to the number of unknowns surround Omicron.

The Euro investors digested mixed data. German industrial production unexpectedly jumped 2.8% MoM much better than expected.

However, German ZEW investor morale, the current conditions component dropped by much more than forecast to -7.

There is no high impacting UK or EU data due to be released today. ECB’s Lagarde is due to speak.