Economic news

Pound stable as weak data is offset by BoE hike anticipations

The pound inched up versus the dollar and euro on Friday, with sluggish economic figures being offset by hawkish statements from Bank of England officials.

Photo: Reuters

The British currency ticked up 0.1 percent on the day to $1.3971. Versus the euro, the pound rose 0.4 percent to 87.98 pence.

Economic figures released this week showed salary growth stable in the last three-month period, but the unemployment rate surprisingly edged higher. Again, the data had only a temporary and moderately negative impact on sterling.

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