GBP/EUR Exchange Rate Stable

FX Signals | The Pound to Euro (GBP/EUR) exchange rate is trading higher this morning, recovering from lows seen last week.

At the time of writing the GBP/EUR exchange rate is trading at around €1.1077.

FX – Pound Recovers as U.K. Signals

Pound (GBP) Softened by Gloomy Economic Outlook amid Lockdown

The Pound (GBP) found small gains against the Euro (EUR) as the impacts of the third national lockdown across the UK concern investors.

Euro (EUR) Falls on Disappointing Retail Sales Figures

The Euro (EUR) struggled to find any gains this morning as disappointing data releases from the Eurozone did nothing to help the currency. This was below expectations and extended the current sequence of decline to ten months.

EURJPY Price $126 Resistance Holds

Furthermore, the publication of retail sales figures from the Eurozone, showed that sales collapsed to -6.1% in November, its worst levels since the height of the first wave of the coronavirus pandemic back in April.

Dollar Retains Strength Amid Lockdowns

The Euro also struggled against the US Dollar (USD) as the Greenback bounced back from civil unrest in Washington DC, and President elect Joe Biden was officially certified to become the next US President on January 20^th.