The Pound Euro (GBP/EUR) exchange rate is edging mildly lower back below €1.15.
The Pound hit a fresh 10 month high versus the common currency on Wednesday, supported by the rapid vaccine rollout programme and better than expected inflation data.
UK CPI +0.7% YoY in January, up from 0.6% in December and better than the 0.5% expected. There is no high impacting UK data due today.
The Euro has been crushed recently by the surging US Dollar. The greenback rises on the back of the reflation trade.
Meanwhile the EU has a sluggish vaccine programme and this could delay the reopening of the region’s economies.