The Pound Euro (GBP/EUR) exchange rate is pushing higher, building on last week’s gains.
The Pound rallied firmly across the previous week after encouraging jobs data, strong retail sales and surging inflation boosted expectations that the BoE will hike interest rates in the December meeting.
Looking ahead to this week, rising COVID cases could distract Pound traders.
In Austria lockdown restrictions have been re-imposed and with cases at a record high in Germany concerns are rising that the Eurozone’s largest economy could be back under lockdown restrictions soon.
Looking ahead Eurozone consumer confidence is in focus. Analysts are expecting sentiment to fall to -5.5 in November, down from -4.8.