The pound euro (GBP/EUR) exchange rate is falling after two days of losses.
The pound is slipping against the euro but rising versus the US dollar as Middle East tensions ease and investors assess fresh business activity data.
UK services growth remained solid in February, with the PMI at 53.9, though ongoing job cuts and persistent price pressures highlight labour market weakness ahead of the Bank of England’s rate decision this month.
The euro is gaining as falling oil prices ease energy concerns and eurozone business activity improves. The composite PMI rose to 51.9, signalling continued expansion, though the data is unlikely to alter expectations that the ECB will keep rates unchanged this year.
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