Report: The pound rose against the euro after the release of the PMI data, but the upward trend is expected to be difficult to sustain.

Nick Rees of Monex Europe stated in a report that the upward trend of the British pound against the euro is expected to be difficult to sustain after the UK Purchasing Managers' Index (PMI) data showed faster growth than that of the eurozone. The UK's composite PMI for January exceeded expectations, reaching 53.9, while the eurozone's composite PMI remained steady at 51.5, in line with expectations. Rees said, "Overall data in the UK is stronger than expected, but when looking at the details in the context, there are more concerns." He pointed out a significant decrease in employment numbers. He stated that unemployment may increasingly become a concern for the Bank of England, while the European Central Bank is expected to maintain interest rates. The euro fell by 0.4% to 0.8672 British pounds.