EUR/GBP weakens below 0.8300 after mixed UK employment data

• EUR/GBP softens to around 0.8295 in Tuesday's early European session. 
• UK Unemployment Rate held steady at 4.4% in three months to December; Claimant Count Change came in at 22K in January.
• The dovish mood surrounding the ECB could weigh on the Euro. 

The EUR/GBP cross edges lower to near 0.8295 during the early European trading hours on Tuesday. The Pound Sterling (GBP) strengthens after the UK employment report. Later on Tuesday, investors will keep an eye on the Bank of England's (BOE) Governor Andrew Bailey speech and Germany's ZEW Survey for February. 

Data released by the UK Office for National Statistics on Tuesday showed that the country's ILO Unemployment Rate remained steady at 4.4% in the three months to December. This figure beated the expectations of 4.5% during the reported period. Meanwhile, the Claimant Count Change increased by 22K in January versus -15.1K prior (revised from 0.7K), missing the estimated 10K figure. The GBP remains firm in an immediate reaction to the mixed UK employment report. 

Earlier this month, the BoE cut its benchmark interest rate to 4.50% from 4.75%. The UK central bank policymakers said inflation was likely to hit 3.7% later this year, almost double the BoE's 2% target. This might trigger the BoE to add the word "careful" to its message about a likely "gradual" further reduction in borrowing costs.

On the Euro front, the dovish stance from the European Central Bank (ECB) might drag the Euro (EUR) lower against the GBP. The ECB policymakers remain comfortable with the outlook for three more rate cuts this year, following a 25 basis points (bps) reduction to 2.75% last month.