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May 14 - 03:55 AM

GBP/USD - Supported By Slightly Above Forecast UK Pay Growth

By Rob Howard  —  May 14 - 02:40 AM
  • Cable nudges up towards 1.2568 on hotter than expected UK pay growth data

  • Regular pay up 6.0% YY vs 5.9% forecast. Total pay up 5.7% vs 5.5% forecast

  • 1.2568 was Monday's high, and May 7 peak. 1.2547 was Asian session low

  • Above-forecast UK pay growth is boost for hawks opposed to BoE June rate cut

  • BoE Chief Economist Pill to speak about the economic outlook at 0730 GMT

  • 70 out of 108 economists polled by Reuters expect first Fed cut in September

Source:
Refinitiv IFR Research/Market Commentary

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