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Tuesday's data on employment and wages in the UK reduces the likelihood of an increase in interest rates in the near future, although unemployment remains at an extremely low 4.2%, says economist Hargreaves Lansdown Ben Brettel.
In January-March, salaries excluding bonuses increased by 2.9%, but the growth in earnings, taking into account premiums, slowed to 2.6% from 2.8%. Ben Brettel also points out that in April the number of applications for unemployment benefits unexpectedly increased.
According to him, the UK economy is not warmed up enough to accelerate inflation and raise interest rates, but it is not weak enough to cause panic among the central bank's leaders.
At the time of writing, the pair GBP / USD is trading with a decline at 1.3503. Strong resistance for the pair is now level 1.3510