The pound euro (GBP/EUR) exchange rate is falling after five weeks of gains.
The pound is edging lower against the euro but is rising versus the US dollar, helped by broad USD weakness amid fresh US tariff threats.
Sterling’s upside may be capped ahead of UK unemployment and CPI data, as the labour market is expected to soften further and underlying growth remains fragile.
The euro is firmer versus both GBP and USD despite escalating trade tensions with the US over Greenland and threats of trade tariffs on both sides.
Softer eurozone inflation at 1.9% reinforces expectations that the ECB will keep interest rates unchanged for now.
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