GBP/EUR: UK Politics & German Sentiment Data To Drive Movement

Better than forecast inflation data helped to lift the Pound on Wednesday and follow through buying continues to lift sterling.

The Pound Euro (GBP/EUR) exchange rate is pushing higher through €1.13, building on gains from the previous session.

Hopes that the accelerating vaccination programme could see the UK start to ease out of lockdown in March is also boosting the Pound.

The Euro looks ahead towards the ECB monetary policy meeting later today. The central bank is not expected to adjust policy given the moves to expand bond buying in December. The outlook could be improving as the vaccine rollout picks up.