{"id":117735,"date":"2024-05-14T11:20:32","date_gmt":"2024-05-14T10:20:32","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117735"},"modified":"2024-05-17T15:17:59","modified_gmt":"2024-05-17T14:17:59","slug":"109075-gbp-eur-pound-falls-after-unemployment-rises","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109075-gbp-eur-pound-falls-after-unemployment-rises\/","title":{"rendered":"GBP\/EUR: Pound falls after unemployment rises"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is falling after gains yesterday<\/strong><\/li>\n<li><strong>UK unemployment rose to 4.3%<\/strong><\/li>\n<li><strong>Euro (EUR) rises as German economic sentiment improves<\/strong><\/li>\n<li><strong>German inflation cooled to 2.2% in April<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is falling, giving back yesterday\u2019s gains. The pair rose 0.1% in the previous session, settling on Monday at \u20ac1.1639 and trading in a range between \u20ac1.1616 and \u20ac1.1643. At 10:00 UTC, GBP\/EUR trades -0.21% at \u20ac1.1615.<\/p>\n<p>The pound is falling UK jobs data supported the view that the BoE could cut interest rates in the coming months.<\/p>\n<p>Unemployment rose to 4.3%, its highest level since last summer, while wage growth excluding bonuses remained unchanged at 5.7%. Average earnings, including bonuses, came in at 5.9%, less than the 6% the Bank of England had forecast.<\/p>\n<p>The figures suggest that the labour market is still heading in the right direction for the Bank of England to start cutting interest rates from the 16-year high, potentially as soon as June, as inflationary pressures continue to subside.<\/p>\n<p>The markets still hold rate cut expectations at a 50% probability of a 25 basis point cut in June and are pricing into 25 basis point cuts by the end of the year.<\/p>\n<p>Attention will be on UK inflation data next week, which they expected to show falling closer to the 2% target. This could be the deciding factor as to whether the Bank of England cuts rates next month or not.<\/p>\n<p>The euro is rising, supported by signs of economic recovery in the eurozone&#8217;s largest economy. The closely watched Germans ZEW economic sentiment rose further for May, suggesting that the economic morale is set to brighten further.<\/p>\n<p>Improving sentiment comes as interest rates are expected to be cut next month and amid signs of a recovery in China, one of Germany&#8217;s largest trading partners.<\/p>\n<p>Meanwhile, German inflation confirmed the preliminary reading of cooling to 2.2% year on year in \u00a0April, adding to evidence that the central bank will cut rates as it signaled in June.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is falling after gains yesterday UK unemployment rose to 4.3% Euro (EUR) rises as German economic sentiment improves German inflation cooled to 2.2% in April The Pound Euro (GBP\/EUR) exchange rate is falling, giving back yesterday\u2019s gains. The pair rose 0.1% in the previous session, settling on Monday at \u20ac1.1639 and trading in [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-117735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound falls after unemployment rises - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109075-gbp-eur-pound-falls-after-unemployment-rises\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls after unemployment rises\",\"datePublished\":\"2024-05-14T10:20:32+00:00\",\"dateModified\":\"2024-05-17T14:17:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/\"},\"wordCount\":326,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100689-gbp-eur-eurozone-inflation.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109075-gbp-eur-pound-falls-after-unemployment-rises\\\/\",\"name\":\"GBP\\\/EUR: Pound falls after unemployment rises - 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