Pound Slips as EUR/GBP Hits 0.8575 After UK Jobless Rate Rises to 4.4%

10 articles · Updated · bitcoinworld.co.in · May 20

EUR/GBP climbed to 0.8575 — a two-week high — before easing to about 0.8560 as sterling stayed near session lows after the UK jobs release.
UK unemployment rose to 4.4%, payrolls fell by 5,000 in February and vacancies dropped for a 20th straight month, outweighing 5.4% wage growth that slightly beat forecasts.
That mix left traders uncertain over the Bank of England path: sticky pay growth argues for caution, but softer hiring and rising joblessness point to eventual easing.
Markets still expect the BoE to hold rates at its next meeting, with roughly two quarter-point cuts priced in by end-2025, while upcoming inflation and services PMI data are seen as the next test for sterling.

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