The euro jumped to its highest point against the British pound since late August 2024 on Monday.
The report revealed that Germany's producer inflation rose for the second consecutive month, highlighting economic resistance that appeared to bolster the euro's upward movement. The European Central Bank could factor in the data as it prepares for its upcoming monetary policy decision. Meanwhile, the pound has been on a downward streak as a result of the Labour government's budget plan.
The euro gained 0.29% against the pound sterling, changing hands for 0.84695 at 10:15 am CET. The European currency was up 0.30% against the American dollar, going for 1.03070.
