The pound euro (GBP/EUR) exchange rate is falling, giving back recent gains.
The pound falls as the labour market weakened. Unemployment rose to 4.3% from 4% and UK wage growth eased to its lowest level in two years.
However, BoE chief economist Huw Pill warned that wage inflation and wage growth are still too high.
The euro is rising against the pound but falling sharply against USD as investors assess the potential damage that Trump trade tariffs could have on the euro area.
German ZEW economic sentiment was weaker than expected at 7.4, down from 13.1, amid concerns about trade tariffs and owing to political uncertainty in Germany.
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