The pound euro (GBP/EUR) exchange rate is rising, pushing above €1.15.
The pound is receiving a boost from UK jobs data, which showed that the unemployment rates eased to 4.2% in the 3/Months Aug, down from 4.3%.
However, vacancies also fell suggesting that some weakness was starting to show up in the labour market after the BoE’s aggressive hiking cycle.
The euro is falling after eurozone business activity contracted at the fastest pace in 3 years, dropping to 46.5 in October from 47.2 in September. The data points to a recession in the region in H2.
German consumer confidence fell for a third straight month amid higher food prices and record interest rates.
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