Deutsche Bank’s Chief UK Economist Sanjay Raja notes that recent UK labour market data show a mix of stronger employment indicators and softer pay dynamics, suggesting the jobs market is not yet fully recovered.
The US Dollar Index (DXY) surged toward the 100.40 level on Wednesday after the Federal Reserve’s (Fed) June policy decision, in which the central bank left interest rates unchanged at 3.50%-3.75%, as widely expected, in Kevin Warsh’s first meeting as Fed Chair.
Cable collapses during the North American session, as the Federal Reserve keep interest rates unchanged, but the ‘dot-plot’ hints at a divided central bank, with half of the eighteen reported dots in the ‘dot-plot’ seeing interest rates higher, which boosted the Greenback.