The pound euro exchange rates fell sharply after two days of gains.
The pound fell after UK jobs data revealed that UK wage growth excluding bonuses eased in the 3 months to August to 7.8%, down from an upwardly revised 7.9%. The data suggests that the UK labour market could be cooling, as the BoE rate hikes takes effect.
The euro pushed higher following better than expected German ZEW economic sentiment data. The ZEW index rose to -1.1 in October from -11.4 in September, the straight month of a significant improvement. The data points to the German economy bottoming out.
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