GBP/EUR: Will Eurozone GDP Data Pull Euro Lower?

The pound euro (GBP/EUR) exchange rate is rising for a third day, as it hits a fresh 5-month high.

The pound is rising after unemployment unexpectedly fell to 3.8% in December, down from 3.9% and defying expectations of a rise to 4%.

Wage growth also slowed by less than expected, with wage growth excluding bonuses at 6.2%, down from 6.7% but above the 6% expected.

The euro is struggling despite German ZEW economic sentiment improving for a seventh straight month to 19.9 in February, up from 15.2.

However, the current conditions sub-component fell for a second straight month to -81.7 from -77.3.