UK average earnings<\/a> rose to a record high of 7.3% 3Mo\/Yr in May, above the 7.1% forecast. The data fuels bets that that BoE could hike rates by a further 50 basis points in August.<\/p>\nThe market is pricing in peak rates of 6.5%, 150 basis points above the current level.<\/p>\n
The euro trades lower ahead of the German ZEW economic sentiment reading which is expected to fall to -10.5 from -8.5.<\/p>\n
The data comes after yesterday’s Sentix investor sentiment fell to -22.9 from -17, fueling concerns of a prolonged recession.<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro exchange rate (GBP\/EUR) is rising above \u20ac1.17 paring yesterday’s losses. The pound is pushing higher after UK average earnings rose to a record high of 7.3% 3Mo\/Yr in May, above the 7.1% forecast. The data fuels bets that that BoE could hike rates by a further 50 basis points in August. The […]<\/p>\n","protected":false},"author":163946598,"featured_media":5302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":{"0":"post-114736","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp","11":"tag-gbp-eur"},"acf":[],"yoast_head":"\n
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