28.04.2020 Eur/GBP Daily Analysis

28.04.2020 Eur/GBP Daily Analysis

Eur/Gbp today is trading at 0.8697, it fell down with 0.0013 from 0.87. The pound edged higher today against the euro after Prime Minister Boris Johnson returned to Downing Street and announced that the UK was now coming to the end of the first of his conflict. This announcement sparked hopes that the Government could begin to take steps towards easing nationwide lockdown measures. Many investors are of the view that if Boris Johnson hints at easing lockdown measures then the pound will continue to get stronger against other currencies. The Euro is getting weaker against the Pound as the Eurozone economic data showed German business morale collapse in the wake of the coronavirus pandemic. According to IFO President Clemens Fuest 'Sentiments at German companies are catastrophic. The coronavirus crisis is striking the german economy with full fury.   Demand for industrial products has collapsed', this is not good for not only German but Europe as a whole because according to IHS Markit 'The  Eurozone economy suffered the steepest falls in business activity and employment ever recorded during April as a result of measures taken to contain the coronavirus outbreak'. Euro investors are therefore looking forward to Wednesday's release of April's flash German harmonized inflation report. If the outcome falls below consensus then we could see the currency fall against Pound.