{"id":105892,"date":"2020-10-16T07:00:05","date_gmt":"2020-10-16T06:00:05","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105892"},"modified":"2020-10-16T06:18:17","modified_gmt":"2020-10-16T05:18:17","slug":"104560-gbp-eur-pound-under-pressure-on-virus-woes-brexit-uncertainty","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104560-gbp-eur-pound-under-pressure-on-virus-woes-brexit-uncertainty\/","title":{"rendered":"GBP\/EUR: Pound Under Pressure On Virus Woes &#038; Brexit Uncertainty"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) under pressure as London lockdown restrictions tighten<\/strong><\/li>\n<li><strong>Brexit in focus as Boris Johnson set to decide what course of action to take<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) also trades under pressure amid surging covid cases<\/strong><\/li>\n<li><strong>Eurozone inflation expected to confirm -0.3% decline<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">GBP\/EUR<\/a>) exchange rate is extending losses on the final day of the trading week. The pair settled -0.4% lower on Thursday at \u20ac1.1028, towards the lower end of the daily traded range. At 05:15 UTC, GBP\/EUR trades -0.1% at \u20ac1.1013. The pair is on track for mild losses of 0.1% across the week, after trading flat the previous week.<\/p>\n<p>Coronavirus and Brexit are the two key topics driving the Pound. Covid cases are rising across the UK. London will go into a stricter lockdown from midnight on Friday as Prime Minister Boris Johnson looks to tackle the rapidly spreading virus. Millions of Londoners will no longer be allowed to mix socially indoors with other households, neither at home or in a restaurant or pub.<\/p>\n<p>The move threatens to completely destroy the hospitality sector in the capital which was already under significant pressure following the first lockdown. The fragile economic recovery that the UK has experienced over the past few months could quickly start reversing.<\/p>\n<p>Brexit news was also unsupportive as the EU told the UK that it must give ground in order to secure a trade deal. The UK views progress in trade talks so far as disappointing. Today, Boris Johnson is expected to set out his approach to the talks. Rumours that trade talks would continue past Boris Johnson\u2019s 15<sup>th<\/sup> October deadline boosted the Pound earlier in the week.<\/p>\n<p>There is no high impacting UK data due for release today leaving the spotlight fully on Covid and Brexit.<\/p>\n<p>The Euro has traded broadly lower versus its peers as rising covid cases and tighter lockdown restrictions threaten to throw the region\u2019s economic recovery off track.<\/p>\n<p>Attention will now turn to Eurozone inflation figures. Analysts are expecting inflation, as measured by consumer price index, to confirm a -0.3% month on month decline in September, as lacklustre inflation remains a problem for the European Central Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) under pressure as London lockdown restrictions tighten Brexit in focus as Boris Johnson set to decide what course of action to take Euro (EUR) also trades under pressure amid surging covid cases Eurozone inflation expected to confirm -0.3% decline The Pound Euro (GBP\/EUR) exchange rate is extending losses on the final day of [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5354,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1645,1395,1393,1394,1387,2374,1391],"class_list":{"0":"post-105892","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eu-summit","10":"tag-eur","11":"tag-euro","12":"tag-gbp","13":"tag-inflation","14":"tag-lockdown","15":"tag-pound"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound Under Pressure On Virus Woes &amp; 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