With the UK government planning to ease its lockdown and resume its economy by reopening the non-essential shops, the British Pound had a positive performance during yesterday’s session. 

Traders awaited news for any Brexit breakthrough, affecting the Pound to buoy in sentiment. It is unsure if the EU will be making a concession regarding fishing rights. 

The country’s coronavirus situation and the performance of its economy will be the main influencer on the GBP.

On the other hand, on Tuesday the Euro failed to pick up consistency due to notable upswings in the majority of other strong currencies. 

Germany’s latest consumer confidence survey showed that it remained low in June. 

European Central Bank (ECB) President Christine Lagarde gave a speech today, in which she hinted that the Eurozone’s economic contraction will drop between the bank’s “medium and severe scenarios”. The Eurozone’s economy is expected to fall between 8%-12% in 2020. 

However, Lagarde added that it is “very hard to forecast how badly the economy has been affected”, adding that the “ECB had to resort to exceptional measures to make sure there is plenty of liquidity.”

Moreover, the U.S. Dollar (USD) entered freefall on Tuesday following its demand for safe-haven was cut off due to new about an American biotechnology company beginning human trials for a coronavirus vaccine.