Sterling nears one-month high on rate view 12:34pm EDT [Reuters]
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Source: Reuters
Sterling nears one-month high on rate view | Reuters 3 Min Read LONDON (Reuters) - 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. “After the labour market data today and transition deal earlier this week the balance has tipped for a May rate hike,” said Fidelity portfolio manager Chris Ellinger. “There is a nice positive boost to the upside. So this is a real reinforcement of the May hike and potentially another hike this year.” Sterling extended gains after the data to peak at $1.4078, up nearly half a percent. Before the data re
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