The Pound Euro ( GBP/EUR ) exchange rate was volatile last week, fluctuating between a 19-day high and a two-week low, as the Bank of England (BoE) interest rate decision rocked Sterling. At the time of writing, GBP/EUR was trading at around €1.16598, virtually unchanged on the week. The Pound (GBP) traded unevenly through the first half of last week, gaining against some weaker peers as markets looked ahead to key UK data and the BoE’s policy decision. Tuesday’s UK jobs report showed unemployment holding steady rather than rising as forecast, although the figures still pointed to some underlying weakness in the labour market. Sterling then softened on Wednesday as UK inflation figures offered little support. Headline inflation rose from 2.9% to 3.
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