gbp-british-pound-coin - GBP

The Pound Euro (GBP/EUR) exchange rate is edging higher on Wednesday for a second straight session.

The Pound pushed higher yesterday as the government said that there would be no COVID lockdowns before Christmas. The Chancellor also announced a £1 billion support package for the hospitality sector.

Today UK GDP will be in focus. Analysts expect 1.3% QoQ growth in Q3, after 5.5% growth in Q2.

The Euro came under pressure after consumer confidence in both Germany and the eurozone dropped sharply owing to rising prices and surging COVID cases.

Today there is no high impacting eurozone data. Omicron headlines could drive the common currency.