{"id":106109,"date":"2020-10-26T07:00:48","date_gmt":"2020-10-26T07:00:48","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106109"},"modified":"2020-10-26T07:02:51","modified_gmt":"2020-10-26T07:02:51","slug":"104632-gbp-eur-euro-slips-as-covid-fears-rise","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104632-gbp-eur-euro-slips-as-covid-fears-rise\/","title":{"rendered":"GBP\/EUR: Euro Slips As Covid Fears Rise"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) under pressure as covid cases surge to record levels &amp; lockdown restrictions are tightened<\/strong><\/li>\n<li><strong>ECB could increase bond buying more than the \u00a3400 billion expected in December<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) weighed down by covid &amp; Brexit<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">GBP\/EUR<\/a>) exchange rate is bouncing higher at the start of the week, recouping some of the losses from last week. The pair shed -0.25% across the week, closing on Friday at \u20ac1.0992, approximately in the middle of the weekly traded range. At 05:15 UTC, GBP\/EUR trades +0.1% at \u20ac1.1006, after pushing as high as \u20ac1.1026 in the Asian session.<\/p>\n<p>The Euro is coming under intense pressure across the board at the start of the new week as covid cases on the continent surge. France recorded its largest single day increase in coronavirus cases, meanwhile Spain has announced a national curfew and Germany has seen new cases rise by 8,675 slightly down from a record surge of 11,176 new daily infections reported on Sunday.<\/p>\n<p>With cases rising and lockdown restrictions tightening, concerns are growing that he fragile economic recovery is being hampered and a double dip recession could be on the cards.<\/p>\n<p>The European Central Bank is due to meet later this week. Expectations are that the central bank will increase the pandemic bond buying programme by \u20ac400 billion in December. However, as more nations tightening the economically painful lockdown restrictions to stem the spread of covid, investors could start to expect even more support from the ECB.<\/p>\n<p>The Pound is trading higher versus the Euro but remains under pressure versus its peers amid Brexit woes and rising covid cases.<\/p>\n<p>The UK reported a record surge in covid cases with 23,012 covid cases recorded on Sunday. The North East &amp; North West of the UK are seeing the sharpest rise in cases. Lockdown restrictions could tighten should cases continue to surge.<\/p>\n<p>Brexit uncertainties continue to drag on the Pound. Even though the UK and the EU have agreed to restart trade talks again last week, progress has once again been slow. Access to fishing waters remains a key issue. French President Macron\u2019s comments that he will retract from any Brexit deal which sacrifices French fisherman has unnerved investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) under pressure as covid cases surge to record levels &amp; lockdown restrictions are tightened ECB could increase bond buying more than the \u00a3400 billion expected in December Pound (GBP) weighed down by covid &amp; Brexit The Pound Euro (GBP\/EUR) exchange rate is bouncing higher at the start of the week, recouping some of [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5174,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,2423,1413,1395,1393,1394,1391],"class_list":{"0":"post-106109","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-brexit","10":"tag-covid","11":"tag-ecb","12":"tag-eur","13":"tag-euro","14":"tag-gbp","15":"tag-pound"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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