GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro (GBP/EUR) exchange rate is edging cautiously higher after mild losses on Monday.

The Pound is supported by the speed of the vaccine programme and the roadmap to reopen the economy from Monday. The plan is to continue despite the Brazilian variant of covid arriving to UK.

Cautious trade is expected ahead of tomorrow’s Budget.

The Euro was well supported on Monday following better than forecast manufacturing PMI data.

German retail sales & eurozone inflation numbers are due shortly and could drive the common currency.