GBP/EUR: Will Eurozone GDP Data Pull Euro Lower?

The Pound Euro (GBP/EUR) exchange rate is moving a few points higher, after gains last week.

The Pound rose last week, boosted by news that the UK economy grew at a faster rate than expected in November. UK GDP reached 0.9% MoM, ahead of the 0.4% forecast.

However, gains in the Pound were limited by uncertainty surrounding Prime Minister Boris Johnson’s future.

There is no high impacting data today, but there is plenty across the week, including inflation, unemployment and retail sales.

Meanwhile, the German economy grew 2.7% in 2021, and remains below its pre-pandemic size as COVID restrictions continued and supply chain issues increased in the second half of the year.