UK wage growth rises to 11-year high

There’s been some pleasing news on the labour market front from the UK this morning, with wage growth moving up to its highest level since the 2008 crisis while the unemployment rate unexpectedly fell back to 4.0%. With inflation recently falling back close to the Bank of England’s 2.0% target, this represents a decent increase in real wages for workers which will likely aid consumption going forward.

Wage growth in the UK continues to remain strong despite the ongoing uncertainty surrounding Brexit. Source: XTB Macrobond


The pound has risen to its highest level of the week in the immediate reaction, and trades back above the $1.29 handle once more. The strong data is all the more pleasing given the ongoing uncertainty surrounding Brexit and just serves to illustrate that despite the continued headwinds the labour market is holding up surprisingly well.    

The GBPUSD rate has moved up to its highest level of the week following the release, and is back above the $1.29 handle once more. Source: xStation

US OPEN: Wall Street attempt to recover after disappointing claims report
BREAKING: OIL skyrockets on deal hopes
Daily summary: Global stock markets rise on stimulus
Daily summary: Global markets fall on weak data
Coronavirus: market update
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.