The pound euro (GBP/EUR) exchange rate has risen to a fresh 22-month high.
The pound has risen against the euro even though unemployment unexpectedly rose to 4.4% amid signs of the UK jobs market weakening.
Private pay also rose by a less-than-expected 5.8%, a level the BoE will be watching. However, total pay, excluding bonuses, rose 6%, slightly less than the 6.1% expected.
The euro is falling as political uncertainty in France, the eurozone’s second-largest economy, continues after President Maron called a snap election.
Concerns are mounting that Marine Le Pen’s far-right party could win the elections later this month.
ECB chief economist Philip Lane warned that the ECB shouldn’t
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