The pound euro exchange rate (GBP/EUR) is falling after the gains last week.
The pound is dropping after industry data showed that salary inflation for permanent positions was at the slowest pace in three years.
The data comes ahead of tomorrow’s jobs data, which is expected to show that unemployment held steady at 3.8%, but wage growth slowed.
The euro is rising after ECB governing council member Peter Kazimir said it was appropriate to keep rates on hold for a while longer before cutting them in the summer.
Last week, the ECB left rates unchanged and pointed to a June rate cut.
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