Hooray for the U.K. – Pound rises amid strong employment and wages data

by 24 Jan, 2018

The number of people in work in Britain surged and a measure of wage growth jumped to a 1-year high according to new data from the Office for National Statistics. Employment increased by 102,000 for the final fiscal quarter of last year, easily beating forecasts that it would fall by 13,000. Meanwhile average wages (excluding bonuses) rose by 2.4 per cent. The Pound went up against both the Euro and Dollar today off the back of the news, improving gains it had made yesterday which pushed it to go to $1.40 against the Dollar for the first time since the Brexit vote in 2016. The bounce-back in the value of the Pound and stronger economic data will increase the odds the Bank of England will hike interest rates again this year. Related: Interserve on watch by U.K. government after Carillion collapse – shares fall
Nordstrom Kohl's Target Macys
The Pound climbs strongest against the Dollar but also makes headway against the more robust single currency

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