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

The pound euro (GBP/EUR) exchange rate is rising towards €1.14, building on last week’s gains.

The euro is falling after a mixed bag of data. While German industrial production rose by 0.2% MoM in November, up from -0.1% in October and more than expected, Eurozone investor sentiment disappointed the market.

The Sentix investor confidence index rose to -17.5, up from -21 but short of the -11.1 forecast.

The pound is finding support from the broad upbeat market mood after China re-opened its borders over the weekend.

UK ministers are set to meet with trade union bosses today in an attempt to end the wave of strikes which have crippled the UK economy.