The Sterling continued an upmove in the Wednesday morning, though previous gains were partially offset after the disappointing report on the UK average earnings. After the drop of 0.13% against the Greenback the British Pound resumed depreciation to fall below the 1.3245 level.
The Office for National Statistics reported that both its Average Earnings Indexes including and excluding bonuses showed the same as previously annual increase of 2.1% in the three months period ended in July. On the positive side, data revealed that unemployment rate in the UK edged lower to 4.3% in the reported term, while analysts’ anticipated an unchanged reading of 4.4%. The release muted expectations for the Bank of England to change its interest rate policy due to a higher inflation.
