EUR/GBP (euro/British pound sterling)

Preliminary British GDP for last quarter was lower than expected at 0.1%, barely above stagnation.

Rates across the eurozone have been paused for a fifth consecutive time since June last year.

The figures signal resilience for the economic bloc, where 350 million people live, which has been rocked by threats from US president Donald Trump of ever escalating tariffs.

Although the British job report was mostly negative, inflation rose more than expected to 3.4%

Increasing signs of economic slowdown come ahead of likely tax hikes this month.

Gold prices steadied on Thursday after a five-day rally that saw it reach successive records.

Services inflation was estimated to be the biggest driver of price rises, clocking a 3.3% rise. Food, alcohol and tobacco prices also ticked up 3.1%.

The euro is on a tear. It’s climbed to its highest level since late 2021, brushing up against the $1.16 mark.