I was discussing with Clarence Lim, a trading associate yesterday on why I knew the earnings index would paint a red picture: Wages are not growing in the UK. Take a look at any job ad and see the wages there. Clarence Lim also said to short GBP/JPY.
The average earnings index increased by 1.8% in January, down from 2.1% in the previous period.
Claimant count saw a reduction of 31.0 thousand compared to 39.4 thousand in the previous period.
The labour market report can be found here.
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