The Pound Euro (GBP/EUR) exchange rate trades marginally lower after diving -1.6% in the previous session. The pair trades at €1.0828 and is on track for its largest weekly loss since early March.

The Pound dropped sharply as a messy no trade deal Brexit became increasingly more likely. The EU have given Boris Johnson until the end of the month to scrap plans to override parts of the Brexit bill or they could take legal action and there will be no trade deal.

The Euro is holding gains after the ECB produced upbeat new economic projections and went softly on talking about the Euro appreciation.