EUR/GBP ticked slightly higher as lower UK wage growth points to another Bank of England pause, economists at ING report.
Wages heading in the right direction for the BoE
While wage growth is still much too strong for the Bank of England’s liking, there’s nothing in the latest data that’s likely to push the committee into a rate hike at the November meeting.
It looks like EUR/GBP can grind towards 0.8700 – should Wednesday’s release of September CPI also point to a benign outcome.