EUR/GBP Exchange Rate Rises on ‘Grounds for Optimism’ for Europe’s Reopening
The Euro Pound exchange rate rose by 0.4% today after Germany downgraded its Covid-19 risk level, buoying confidence in the recovery of the Eurozone’s largest economy. The pairing is currently fluctuating around £0.86.
The Euro (EUR) benefited from the German government’s downgrading of the nation coronavirus risk to ‘high’ from ‘very high’.
German health minister Jens Spahn said that the Government now has ‘grounds for optimism’ thanks to the nation’s rollout of Covid-19 vaccines.
In Eurozone conomic data, today saw the release of the latest Eurozone unemployment rate figure for April, which fell below forecasts from 8.1% to 8%.