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Pound Sterling Outlook: UK Wages Data A Key Piece In The Jigsaw For The BoE And GBP
The outlook for UK interest rates will continue to have an important impact on the Pound. In this context, the latest UK wages data on Tuesday will be a key element for the UK currency. The Pound to Dollar (GBP/USD) exchange rate drew support from Friday’s stronger-than-expected GDP data, but was unable to break above the 1.2550 level and consolidated around 1.2520 on Monday. The Pound to Euro (GBP/EUR) exchange rate also failed to make headway and consolidated around 1.1620. ING commented; “We doubt this better-than-expected reading has too much impact on Bank of England thinking – beyond perhaps giving it ... (full story)