The pound euro (GBP/EUR) exchange rate is rising for a second straight day.
The pound is rising ahead of BoE’s chief economist Huw Pill’s speech, which comes as inflation in the UK still sits in double digits.
UK manufacturing PMI fell to 47.9 in March from 49.3 highlighting weakness in the sector.
The euro is falling ahead of PPI inflation data, which is forecast to cool to 13.5% YoY in February, from 15% in January. Cooling PPI could suggest that CPI inflation will cool further.
The data comes after the manufacturing PMI fell to a 4-month low in March of 47.3 from 48.5.