The pound-euro (GBP/EUR) exchange rate is rising, snapping a three-day losing streak.
The pound is rising as investors weigh up mixed UK data. Unemployment climbed to a near five-year high of 5.1%, payrolls fell sharply, and wage growth eased to 4.6%, signalling a softening labour market.
However, PMI figures were upbeat, with services activity rising to 52.1 in December and new orders growing at the fastest pace in over a year, suggesting a post-budget boost.
Meanwhile, the euro weakened after eurozone business activity unexpectedly slowed.
The eurozone composite PMI slipped to 51.9 in December.
The ECB outlook remains unchanged. This data is unlikely to alter central bank policy expectations.
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