The pound euro exchange rate (GBP/EUR) is rising for a third day.
The pound is up after UK unemployment rose to 4.2% in a sign that the labour market could be starting to weaken.
However wage growth remained strong at 6%, only down slightly from 6.1% in the previous month. This keeps inflationary pressures high.
The market is pricing in an 80% probability of a 25 basis point rate cut in August.
The EUR is under pressure as the ECB is expected to cut rates first, in June.
German ZEW economic sentiment rose by much more than expected to 42.9 up from 31.7 in March.
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