EUR/GBP drops 0.38% to 0.8395 as robust UK jobs data strengthens the Pound Sterling and increases market expectations for additional Bank of England monetary tightening.
The EUR/GBP pair has declined by 0.38% to trade at 0.8395, a level not seen since May 2025. This downward movement is driven by robust UK labour market data, which has increased market expectations for Bank of England (BoE) interest rate hikes, thereby strengthening the British Pound relative to the Euro.
The pair is trading around 0.8395.
The Pound is strengthening due to stronger-than-expected UK labour market data, which has bolstered expectations for BoE interest rate hikes.
The Euro-Sterling cross fell 0.38% on Tuesday to trade near 0.8395, marking levels not seen since May 2025. Stronger-than-anticipated UK labour market figures fueled expectations for further Bank of England interest rate hikes, driving demand for the British Pound.
The pair fell due to stronger-than-expected UK labour market data, which increased market expectations for further interest rate hikes from the Bank of England, thereby strengthening the British Pound.