{"id":106179,"date":"2020-10-28T07:00:04","date_gmt":"2020-10-28T07:00:04","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106179"},"modified":"2020-10-28T09:15:42","modified_gmt":"2020-10-28T09:15:42","slug":"104658-gbp-eur-euro-under-pressure-on-covid-fears","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104658-gbp-eur-euro-under-pressure-on-covid-fears\/","title":{"rendered":"GBP\/EUR: Euro Under Pressure On Covid Fears"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) advances as Brexit talks continue<\/strong><\/li>\n<li><strong>CBI data shows UK retail sales fell sharply in October as tighter lockdown restrictions were re-imposed<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) under pressure as EU nations move towards national lockdown<\/strong><\/li>\n<li><strong>German import &amp; export data in focus<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">GBP\/EUR<\/a>) exchange rate is extending gains for a third straight session on Wednesday. The pair settled on Tuesday +0.3% at \u20ac1.1056, at the top end of the daily traded range. At 05:15 UTC, GBP\/EUR trades +0.25% at \u20ac1.1084.<\/p>\n<p>The Pound received a boost after EU chief negotiator Michel Barnier resumed post Brexit trade talks in London with his British counterpart on Tuesday, as the UK and the EUI try to reach a deal. There are just 10 weeks to go until the UK ends the transition period meaning that there is very little time left to bridge the gaps that exist.<\/p>\n<p>European Council President Charles Michel warned that Brexit negotiations are at the most difficult stage. He was still unsure whether a deal would be agreed.<\/p>\n<p>Meanwhile covid cases remain elevated with over 22,000 reported in the last 24 hours, whilst the death toll jumped 50% on a week ago. More areas will be imposed with Tier 3 lockdown in the coming days and weeks.<\/p>\n<p>Data released by the Confederation of British Industry\u2019s monthly gauge of retail sales revealed that the recovery in retail, which had been a bright spot in the UK economy, stalled in October. The monthly gauge dropped -23 in October, its lowest level since June after reaching an 18-month high of +11 in September.<\/p>\n<p>The Euro is under pressure after France and other EU nations move towards full lockdown, in a bid to stem the spread of coronavirus. The announcement comes after France recorded over 33,000 new daily cases and the highest death toll since April.<\/p>\n<p>Attention will now turn to mid-tier German import and export price data ahead of the European Central Bank\u2019s monetary policy announcement on Thursday.<\/p>\n<p>The central bank is expected to hold steady on policy, paving the way for additional easing in the December meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) advances as Brexit talks continue CBI data shows UK retail sales fell sharply in October as tighter lockdown restrictions were re-imposed Euro (EUR) under pressure as EU nations move towards national lockdown German import &amp; export data in focus The Pound Euro (GBP\/EUR) exchange rate is extending gains for a third straight session [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5154,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,1395,1393,1394,2374,1391],"class_list":{"0":"post-106179","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-eur","11":"tag-euro","12":"tag-gbp","13":"tag-lockdown","14":"tag-pound"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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