The pound euro (GBP/EUR) exchange rate is falling, extending last week’s losses.
The pound is under pressure after BoE Governor Andrew Bailey warned that the central bank may cut rates more aggressively if the jobs market slows at a faster pace.
The warning comes ahead of UK jobs data on Thursday and after UK GDP unexpectedly contracted by 0.1% MoM in May.
The EUR rises against the pound but falls versus the USD after Trump threatened 30% trae tariffs on the EU from August 1st if no trade deal is agreed.
This is widely considered a negotiation tactic rather than a real risk.
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