Posts Tagged ‘Jackson Hole’
Strong Wage & Inflation Data Provide Support for Sterling amid Recession Concerns
GBP Wage growth and inflation data were both reported stronger than expected last week. The ONS reported “In April to June 2023, the annual growth for regular pay (excluding bonuses) was 7.8%. This is the highest annual growth rate since comparable records began in 2001.” Statista reported “UK inflation rate was 6.8 percent in July…
Read MoreFed Minutes Likely to Boost Dollar
GBP The pound had a poor week as it lost ground versus every G10 currency, bar the Swiss Franc. Versus the dollar and euro, sterling depreciated by 0.3%. It appears that the bullish sentiment on the pound has lost support over the last week, as markets start to question the Bank of England’s optimistic outlook,…
Read MoreThe First ever virtual Jackson Hole Symposium
GBP The pound had a turbulent second half of last week, on Wednesday it nearly equaled the year high against the dollar before dropping a percent and a half. Cable then repeated this pattern over the course of Thursday afternoon and into Friday. Against the euro we saw a similar volatility of 1.4% towards the…
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