GBP / EUR: the pair regains € 1.18 – Currency Live

The euro pound exchange rate is heading higher, recovering € 1.18 after heavy losses at the end of last week.

News of a new southern African covid variant, Omicron, which has mutated so much that scientists fear it could potentially escape vaccines caused the pound to drop on Friday

British Prime Minister Boris Johnson and other countries have tightened travel restrictions on six southern African countries.

With no high-impact data due for release, Covid headlines could push the pound up.

The euro surged on Friday in part on the back of the falling US dollar as investors questioned the Fed’s ability to raise interest rates.

German data on inflation and consumer confidence in the euro area will be in the spotlight today. German inflation is expected to continue to rise.

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