Sterling steady after UK wage data; U.S. inflation in focus
The pound trod water on Tuesday as traders held their fire ahead of U.S. inflation data that could be key in dictating the near-term direction of the dollar against other currencies. British data earlier in the day showed UK workers’ wages grew slightly less quickly in the three months to September, but remained close to their record pace. The figures will likely do little to ease the Bank of England’s concerns about inflationary pressures and did nothing to change market-based forecasts for a UK rate cut in June 2024 at ...
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