The pound euro (GBP/EUR) exchange rate is rising for a second day, retaking €1.16.
The pound is rising in risk on trade and despite PMI data showing that business activity contracted again. The November composite PMI was 48.3, up from 48.2.
BoE policy makers will be speaking and could provide further clues as to where interest rates are heading.
The euro falls despite improving German business sentiment. German IFO business climate rose to 86.3 in November, from 84.5.
Attention will now turn to the release of the minutes from the latest ECB meeting.
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