The Euro to Pound (EUR/GBP) exchange rate dipped today, with the pairing currently trading around €0.895.
Sterling rose today after the Bank of England’s (BoE) Governor Andrew Bailey was a notably upbeat at The City UK National Conference today.
The Euro (EUR) suffered this week as the Eurozone’s economic future remains uncertain after Poland and Hungary vetoed a seven-year EU Covid-19 budget.
Consequently, demand for the single currency has slipped as the EU faces further internal squabbles amidst a rising number of Covid-19 cases throughout Europe.
Euro (EUR) traders will be awaiting tomorrow’s release of the Eurozone’s Consumer Price Index for October.
Any signs of a struggling European economy would prove EUR-negative.
Meanwhile, EUR investors will be monitoring Europe’s Covid-19 situation. If this appears to be worsening, then we could see the EUR/GBP exchange rate fall.
Brexit debates will continue to drive the Pound, however, so we could see Sterling suffer if a no-deal Brexit seems more likely.
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