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Sterling nears one-month high on rate view


Thursday, 22 March 2018 00:25 WIB

poundSterling,


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Sterling rose half a percent within reach of a one-month high after data showed British workers’ pay rose at the fastest pace in nearly 2-1/2 years in the three months to January, cementing expectations the central bank will raise interest rates in May.

The Office for National Statistics said workers’ total earnings, including bonuses, rose by an annual 2.8 percent — the biggest increase since the three months to September 2015 — after an upwardly revised 2.7 percent rise in the three months to December.

Sterling extended gains after the data to peak at $1.4078, up nearly half a percent.

Source: Reuters


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