GBP: Mixed day for sterling as market awaits inflation data

Sterling remained steady against the euro yesterday while oscillating wildly against the US dollar, gaining and losing close to 1% during the course of the afternoon.

Unemployment was revealed this morning to have ticked up slightly in the early part of 2023, rising to 3.7%. However, for those in work there was good news, with earnings rising ahead of expectations, by 6.6% excluding bonuses (5.9% with bonuses). This was well ahead of expectations.

Is that earnings increase still below inflation? Watch out for the inflation result at 7am tomorrow.

GBP/EUR past year

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