Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD: UK Average Earnings Index
The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 09:30 GMT. The GBP/USD exchange currency rate gained 16 pips or 0.12% right after the release. The British Pound continued trading at the 1.3035 level against the Greenback.
The Office for National Statistics released the UK Average Earnings Index data, which came out better-than-expected of 3.2% compared with the forecast of 3.1%.
According to the official release: "For November 2019, average regular pay, before tax and other deductions, for employees in Great Britain was estimated at £511 per week in nominal terms. The figure in real terms (constant 2015 prices) is £472 per week, which is still £1 (0.2%) lower than the pre-economic downturn peak of £473 per week in March 2008."
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