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Nov 14 - 03:55 AM

GBP/USD - Rises To 1.23 On Hot UK Wages, Jobs Data

By Rob Howard  —  Nov 14 - 02:40 AM
  • Cable climbs to 1.2300, high since Thursday, on hot UK wages and jobs data

  • UK Q3 wages up 7.9% vs 7.4% f/c; prior print revised up by 0.1% to 8.2%

  • UK employment up 54k in 3mths to Sept vs minus 198k f/c. Oct payrolls up 33k

  • 1.2280 was Asian session high (pre-UK data). 1.2280 was also Monday's high

  • Hot UK wages, jobs data is blow for doves advocating early BoE rate cuts

  • MPC's hawkish Mann aided Monday's rise to 1.2280. Dhingra speaks at 1200 GMT

Source:
Refinitiv IFR Research/Market Commentary

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