The pound euro (GBP/EUR) exchange rate is rising, paring yesterday’s losses. The pair is set to to rise 0.6% after two week’s of losses.
The euro is falling after German industrial output fell -0.2% MoM, below the 0% forecast and down from 0.3% growth last week.
The data comes after mixed figures yesterday, as German factory orders rose but retail sales stagnated at 0%.
ECB President Christine Lagarde is due to speak later.
The pound rises despite UK house prices falling the most in 12 years in June.
Hawkish BoE bets keeps the pound supported. The market is pricing in a 6.5% peak rate.