Economic news

Pound inches higher as Britain's wage growth accelerates

The pound inched up slightly on Wednesday as fresh figures showed UK wages had risen a little in the three months to October, but employment dropped again, as employers become more cautious amid looming Brexit.

The pound rose 0.3 to $1.3350, recovering from a two-week trough of $1.3303 touched on Tuesday. Versus the euro, the British currency ticked up a quarter of a percent to 87.98 pence.

The fresh data showed workers’ total earnings, excluding bonuses, increased by an annual 2.3 percent during that period, above economists’ expectations, but still below the inflation rate.

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