The pound-euro (GBP/EUR) exchange rate rose on Wednesday, reaching €1.16.
The EUR is under pressure as attention remains on the political uncertainty in France.
Prime Minister Bayrou faces a vote of no confidence on September 8th. An opinion poll released today showed that the public wants new parliamentary and presidential elections.
German GFK consumer confidence fell for a third straight month to -23.6 amid worries about the outlook for jobs.
The pound is rising after PPI inflation rose to 1.9% YoY in June, a two-year high.
The data adds support to the view that the BoE will leave rates unchanged until February next year.