The pound-euro exchange rate (GBP/EUR) has been falling for a third straight day, dropping to €1.17.
The pound is easing despite the UK’s GDP rising 0.2% MoM in January after contracting in December. The data points to the UK recession being short-lived.
The data comes after UK unemployment rose to 3.9% and wage growth was at its slowest pace in 2 years.
The euro is rising as ECB policymakers point to a June rate cut rather than a move in April. This is in line with ECB President Lagarde’s comments last week.
Eurozone industrial output fell -3.2% MoM, more than the -1.5% forecast.
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