The pound euro exchange rate is rising for a fourth straight day, edging towards €1.19.
The EUR is under pressure amid renewed trade tariff concerns following President Trump’s comments that he wanted universal trade tariffs over 2.5%.
The ECB’s rate decision is tomorrow. It is expected to cut rates by 25 basis points while signaling further rate cuts.
The pound is rising as data showed that UK disinflation eased in January, falling 0.7% this month after falling 1% last month. Food inflation rose 0.5%, its highest level since April last year.