GBP/USD Trading Higher, U.K. PPI Rises

GBP/USD is trading at 1.2157, up 0.0122. The U.K. Office for National Statistics reported that U.K. input producer prices (PPI) rose 1.8 percent during December versus a 0.6 percent fall in November. December U.K. output PPI rose 0.1 percent versus a rise of 0.1 percent in November. The agency is scheduled to release U.K. unemployment data Wednesday at 4:30 a.m. ET.