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2026-02-17 22:44:09
[Weak UK Employment Data Extends Sterling Losses] Following weak UK employment data, the pound fell further, hitting a four-week low against the euro, as market expectations for a Bank of England rate cut as early as March intensified. The UK Office for National Statistics reported that the UK unemployment rate unexpectedly rose in the three months to December 2025, while wage growth slowed simultaneously, indicating a faster-than-expected cooling in the labor market. Monex Europe analysts pointed out that the current data reinforces the downside risks for the pound, and if Wednesday's UK January inflation data meets expectations and slows to 3.0%, the pound may face further downward pressure. In the currency market, the euro rose to a high of 0.8743 against the pound; according to data from the London Stock Exchange Group, the pound fell to 1.3516 against the dollar, a new low in 11 days.
