The euro has strengthened slightly against the pound but has weakened against the dollar following record annual PPI growth.
The producer price index for the eurozone in October soared to 21.9% year-on-year and 5.4% month-on-month, both higher than anticipated. This is the largest annual increase on record and further points to signs of inflationary pressures.
President of the European Central Bank Christine Lagarde will speak this morning. Markets will be listening for any comments around inflation following these data releases.
