The euro has had a choppy start to the day against the pound, given a small boost earlier by comments from the ECB’s Luis de Guindos that the Eurozone economy is likely to have ‘bottomed out’ in April and will now be on the slow path to recovery. However, he did caution that it will likely take two years to return to its pre-coronavirus levels.
Uncertainty continues over the Brexit talks, with the EU set to vote on Friday on a draft resolution that could lead to a veto of a trade deal if the UK does not agree to ‘robust’ safeguard on competition.
