investingLive European FX news wrap: UK unemployment drops, BoJ set to stand pat in April

European markets traded cautiously as macro and geopolitical headlines dominated market direction. UK February ILO unemployment fell to 4.9%, reducing near-term pressure for BoE easing, while German ZEW plunged to -17.2 on US‑Iran fallout and higher energy costs. The ECB urged caution, with market odds of a rate hike at ~16% for April and 63% for June. The BoJ is widely expected to hold policy at 0.75% in April (market-implied 7% chance of an April hike, 57% for June). Geopolitical focus on upcoming US‑Iran talks and a pushed ceasefire deadline is keeping traders bid into safe‑haven and precious‑metals flows; silver (XAGUSD) is consolidating above key support. Overall tone is mixed-to-cautious, with FX and precious metals sensitive to negotiation outcomes and energy-price developments.