It's been a good hour for the pound as traders position/exit ahead of the UK CPI data due at 08.30 GMT
In my earlier preview I suggested that a soft reading was priced in so it could be we are seeing some early position-squaring, or maybe there's talk going round of a stronger number.
GBPUSD is up to 1.5365 with offers between 1.5380-1.5400 the next hurdle. EURGBP testing demand/support around 0.7400 again from 0.7423
Update: 06.20 GMT
Would appear the move is M&A, not data, related with reports of AB InBev and SABMiller reaching a deal at £44 per share
