The pound euro (GBP/EUR) exchange rate is falling after small gains yesterday.
The pound is falling after UK government spending rose by more than expected in December to £17.81 billion, up from £11.8 billion in November and well above forecasts of £13.4 billion.
The data highlights the challenges that Chancellor Rachel Reeeve has balancing the books.
The EUR is rising despite Trump threatening trade tariffs on the European Union owing to the huge trade surplus.
Gains in the EUR could be limited given the dovish ECB commentary. The ECB is expected to cut rates by 25 basis points.
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