EUR/GBP falls to six-month lows at 0.8511. The economists of Societe Generale They analyze the pair's prospects.
British wages reinforce Bank of England caution
Two weeks ago, the BoE mentioned, like the Fed, that it still does not have confidence in inflation to cut rates. This will not change after earnings without bonuses slowed in December to 6.2% quarterly year-on-year, above the forecast of 6.0%. November was revised upwards by 0.1 percentage points, to 6.7%.
Employment increased by 72,000 people. Payrolls, a notoriously volatile data series, rose by 48,000 in January. December was revised upwards to +31,000.
For EUR/GBP, a pullback to the 0.8400-0.8500 range becomes a clear possibility for the first time since 2022.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
