UK Misses Forecasts, Pound Drops

The latest data from the United Kingdom is not as positive as expected.

Economic News
17 thg 4, 2018
UK Misses Forecasts, Pound Drops

Today in the United Kingdom data on important economic markers was released. Most notably, the UK published its wage growth report and inflation data.

While it was forecasted that wage growth would amount to 3.0%, the numbers actually came in at 2.8%, disappointing investors. Furthermore, inflation was lower than wage growth at 2.7%, likely paving the way for an interest rate hike by the Bank of England next month. This will be more firmly confirmed tomorrow when the March inflation report is to be published.

As a result of the publications, the British pound began to decline once again. The GBP/USD fell from its biggest recent high at 1.4377 down to 1.4331 just this morning.

Furthermore, the British pound might also be affected by the recent developments in Syria. The United Kingdom joined the United States in their retaliation against the chemical gas attack in Syria, prompting Russia’s anger. It is yet unclear whether and how Russia would answer that.

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Attack in Syria Push Dollar Down

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The US, France, and the UK attacked chemical weaponry facilities in Syria over the weekend.

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Conflict in Syria Worsens

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Global powers are considering taking military action in Syria after a gas attack on civilians last week.

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