Euro rises on inflation concerns

The euro shot up against the dollar yesterday on the back of producer prices in the Eurozone rising even higher than expected, up 1.5 per cent in January, compared to December. The increase left industrial producer prices up 6.1 per cent on the same time last year, the Eurostat office announced yesterday. With oil prices trading above $100 (£61) a barrel and Eurozone inflation well above target, investors expect the European Central Bank to sharpen its anti-inflation rhetoric when it announces its latest interest rates decision, today.