The pound euro (GBP/EUR) exchange rate is falling on Friday but is set to gain across the week.
The pound is falling after BoE Governor Andrew Bailey pointed to the slowing UK labour market. Bailey said there was more evidence that companies were adjusting pay and staff levels in response to the increased tax burden.
It appears that the BoE Governor’s stance on rate cuts may be softening.
The EUR is falling despite an unexpected fall in eurozone economic sentiment, which fell to 94, with a notable deterioration in industrial sentiment.
French and Spanish inflation was hotter than expected at 0.8% and 2.2% respectively.
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