The pound euro (GBP/EUR) exchange rate is rising for a second day.
The pound is extending gains from yesterday after BoE policymaker Huw Pill said that he thought rate cuts were still a time away.
His comments come after UK services PMI data yesterday was stronger than expected.
The euro is falling despite the German IFO business climate improving in April for a third straight month.
The data comes after stronger-than-expected German services PMI earlier in the week and supports the view that the economy is starting to recover.
Even so, the ECB is on track to cut rates in June.
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