eur-bank-notes-magnifying-glass - EUR

The pound euro (GBP/EUR) exchange rate is falling for a second day.

The pound fell after mixed jobs data yesterday, which showed that unemployment unexpectedly rose to 3.9% but wages also ticked higher to 6.7%.

Today BoE Governor Andrew Bailey is due to speak later today.

The euro rose after GDP data confirmed 0.1% growth in Q1 but German ZEW economic sentiment tumbled to -10.7, marking the first dip into negative territory since December.

Attention now turns to eurozone inflation data, which is expected to confirm that CPI rose to 7% YoY in April. Hot inflation could fuel hawkish ECB bets and lift the EUR.