The Pound Euro (GBP/EUR) exchange rate is edging higher, building on gains from yesterday as it pulls €1.20 into view.
The euro is coming under pressure as the Russian war continues, with few signs of a diplomatic end any time soon.
German producer prices rose to 25.9% YoY in February, up from 25%, showing that inflation was still rising even before the Ukraine conflict.
The pound is rising with few fresh catalysts. Attention will turn to the Spring Statement tomorrow where Chancellor Rishi Sunak will set out how, it at all, he plans to help households and businesses struggling with surging energy prices.
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