Decent data has seen the pound rally 16 Aug
GBPUSD still trying to breach sell-interest around 1.2900 and EURGBP off lows of 0.9080 to post 0.9100 again as a few GBP sellers return.
Good to see wages making some upward gains and that's good for the economy in theory if they actually spend it rather than use it to fund household/personal debt.
As I said in my data post though the increase in wages lessens the chance of a BOE rate hike IMHO given that it lessens the need to curb an already falling inflation.
One point of concern should be the large contribution from financial sector bonus payments in this reporting period.
Let's see if we get a second wave of GBP buying. If not then we're ranging still and a fade is in order.
Full reports from ONS here if you didn't see my update on previous post.
EZ Q2 GDP out next at the top of the hour.
GBPUSD 60m
