{"id":112765,"date":"2017-09-13T07:45:52","date_gmt":"2017-09-13T11:45:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=112765"},"modified":"2017-09-13T07:45:52","modified_gmt":"2017-09-13T11:45:52","slug":"sterling-tumbles-after-uk-wage-growth-miss","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/sterling-tumbles-after-uk-wage-growth-miss\/","title":{"rendered":"Sterling tumbles after UK wage growth miss"},"content":{"rendered":"<div id=\"inves-789379568\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 13, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>Sterling found itself vulnerable to heavy losses during Wednesday\u2019s trading session after UK wage growth figures disappointed, remaining steady at 2.1% in the months up to July.<\/p>\n<p>Although the UK unemployment rate fell to 4.3%, the lowest level since 1975, this was offset by disappointing figures in average weekly earnings, that only grew by 2.1%.<\/p>\n<p>Wage growth is clearly struggling to keep with inflation, which currently stands at 2.9% and as such, is likely to squeeze households further. With the gap visibly widening between pay and rising prices, concerns are mounting over the longevity of the UK\u2019s consumer-driven economic growth.<\/p>\n<p>Today\u2019s UK labour report should add more spice to Thursday\u2019s BoE policy meeting, especially when considering how the static wage growth may pressure the central bank to raise rates sooner than expected to tame inflation. While markets widely expect UK interest rates to be left unchanged in September, the main focus will revolve around the tone of the meeting and whether there are any dissents. A hawkish interest rate hold, coupled with clues on when the central bank plans to take action, is likely to offer Sterling a welcome boost.<\/p>\n<p>Rising inflation, subdued wage growth, and Brexit uncertainty have left the Bank of England in a complicated position; it will be interesting to see how the central bank puts this complicated jigsaw of events together.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer:\u00a0<\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Sterling found itself vulnerable to heavy losses during Wednesday\u2019s trading session after UK wage growth figures disappointed, remaining steady at 2.1% in the months up to July. Although the UK unemployment rate fell to 4.3%, the lowest level since 1975, this was offset by disappointing figures in average weekly earnings, that only [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-112765","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=112765"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112765\/revisions"}],"predecessor-version":[{"id":112767,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112765\/revisions\/112767"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=112765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=112765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=112765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}