Pound stays stronger versus euro after UK producer prices rise

The pound held gains versus the euro after a report showed UK producer prices rose twice as much as economists forecast in January.

Britain’s currency appreciated 0.3 per cent to 84.28 pence per euro as of 9:35 Am in London, a second day of gains versus the common European currency.

The cost of goods at factory gates jumped 1 per cent from December, when it rose 0.4 per cent, the Office for National Statistics said today in London. That’s the most since April and exceeded the 0.5 per cent median forecast of 14 economists in a Bloomberg News survey.