The pound euro (GBP/EUR) exchange rate is rising for a second straight day, heading towards €1.1225.
The pound rose in the previous session, boosted by hawkish comments from BoE policymaker Catherine Mann, who said that a rate hike was more likely than not.
With no high-impacting UK data to be released, BoE chief economist Huw Pill’s speech will be in focus.
The euro is rising ahead of German industrial production data, which is expected to rise. The data comes after German factory orders rose by more than expected at 3.2% , up from -4.4%.
Eurozone investor sentiment also improved considerably to -8 in February from -17.5. However, retail sales tumbled by 2.8%, worse than the -2.7% forecast.