During European trading, the British Pound increased against the US Dollar, trading above 1.2480 levels.
The GBP/USD currency pair rose in the European session, following better than expected GDP data and a possibility of a peace in Ukraine. In the UK, GDP data for December was published with better than expected results (0.4% realised vs 0.1% expected). In the US, PPI Inflation figures for January (0.3% expected) (13:30 GMT) and Initial Jobless Claims data (217k exp) will be posted (13:30 GMT).