The Producer Price Index (PPI) comes out at 2.4% from the previous 1.8%.  1.8% was forecast for this release as well.

The Trade Balance number comes out at -7.4B from the previous -7.5B.  This was forecast at -7.5% once again.

The PPI Output comes out at 1.4% from the previous 0.9%.  A drop to 0.6% was forecast.

As both PPI figures came out better than expected and trade balance was pretty much on par, the GBP was able to make some strong initial gains.