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The euro has reversed some of its losses against the pound, with unemployment coming in lower than expected across the Eurozone and in Italy yesterday. This morning, construction PMI has show a slow inch upwards, although retail figures for April are expected to show a steep drop. Later today, we will see the ECB’s interest rate decision, expected to be held unchanged.

The European Union is reported to be working on a white paper which will see new methods proposed to scrutinise state-owned businesses from countries like China, amid an environment of rising tensions between the West and China.

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