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Oct 17 - 06:55 AM

GBP/USD - Sags On UK Pay Growth Miss Before MPC Dove Speaks

By Rob Howard  —  Oct 17 - 04:55 AM
  • Cable falls to 1.2150 as pound continues to suffer on sub-f/c UK pay growth

  • Up 8.1% YY vs 8.3% forecast. Ex-bonus pay growth up 7.8%, as expected

  • 1.2150 = intra-day low. 1.2195 was Asian session base (pre-UK pay data)

  • MPC's most dovish member, Dhingra, is due to speak at 0905 GMT nL4N3BM383

  • UK Sept inflation data due Wednesday at 0600 GMT; CPI forecast at 6.6% YY

  • 1.2123 (last Friday's one-week low) and 1.2100 are GBP/USD support levels

Source:
Refinitiv IFR Research/Market Commentary

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