The pound euro (GBP/EUR) exchange rate is rising for a second day.
The pound is rising after UK jobs data showed the challenges the BoE is facing. UK unemployment remained at 4.7% a 4-year high. However, UK wage growth remained elevated at 5%.
The BoE has been watching the UK jobs market closely, but with sticky inflation, it may not cut rates again until next year.
The EUR is falling after economic sentiment fell by more than expected in the region.
German ZEW economic sentiment fell to 34.7 in August, down from 52.7 in July. Expectations had been for a decline to 40. The data indicate some experts were disappointed by the EU- US trade deal.
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