Economic news

Pound slides ahead of key wages numbers

The pound inched lower versus the dollar on Wednesday, as investors remained cautious ahead of British average wages figures, which if strong will strengthen bets on a Bank of England interest rates increase in May.

Photo: Reuters

Sterling lost 0.2 percent to $1.3965. The British currency was virtually unchanged at 88.20 pence per euro.

RIsing anticipations that Britain and the European Union can reach a transition deal, and then terms for the UK that allow it to retain privileged access to the single market, have underpinned the pound this year.

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