The pound euro (GBP/EUR) exchange rate is heading higher for a fourth consecutive day.
The pound is extending gains after BoE Governor Andrew Bailey said that the central bank would not cut interest rates for the foreseeable future. Bailey also raised concerns over the growth outlook for the UK.
BoE policymaker Jonathan Haskel is due to speak later.
The euro is falling despite German consumer confidence unexpectedly improving heading into December.
GFK consumer confidence rose to -27.8 up from -28. 3 and defied expectations of a decline to -28.5.
ECB President Christine Lagarde and ECB chief economist Philip Lane are due to speak later.
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