Not that it fell right off in the first place, but Martin Weale has chucked some more wood on the fire. The full comment is a little more interesting that the titbit on the post and he’s said that if average earnings rise faster than expected then they cannot rule out raising rates.
I think we’re going to have to see wages breaking much higher than inflation before they consider them out of control as obviously that would naturally bring inflationary pressures.
It’s a bit more clarity to the comments but that hasn’t stopped the pound from looking up.
If we break above 1.67 then 1.6725/30 could see resistance coming in then we’ll be looking at 1.6647/50 once again.
GBP/USD m15 chart
