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UK wages rose 2.4% in the three months to November 2017, a faster pace than the 2.3% economists expected and the strongest growth in a year. The ONS reported unemployment held at 4.3%, a four-decade low, and the pound edged higher against the euro and dollar on the data.
Markets are now watching the Bank of England for its response to the wage pickup.
Faster wage growth raises expectations of Bank of England rate hikes, which supports sterling and changes the dollar cost of imported feed for UK buyers. The direct effect on feed prices is small.
poundsterlinglive.comJames SkinnerJan 24, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
