Tuesday, February 17, 2026 at 2:44 PM
Sterling extended its losses to reach a four-week low against the euro after weak U.K. jobs data boosted the prospect of another interest-rate cut as soon as March.
Sterling traded flat against the dollar and rose against the euro, and Commerzbank said Trump’s announcement of a 15% flat global tariff could have negative implications for the pound.
The result—combined with slowing wage growth—provides further incentive for the BOE to cut its key rate next month.
The reading increases the chances of a rate cut by the Bank of England when policymakers next meet in March.
Wage increases in the eurozone slowed last year, a sign that inflation is set to remain around the European Central Bank’s target this year.
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