ONS revises UK Q2 labour unit costs by 2.4%, from 1.6% aa




UK Office for National Statistics now with the widely expected revision 9 OctEamonn had the head earlier in Asia and in the various reports of traffic helped a supply under the book, therefore, naturally limited reaction now it is officially there.GBPUSD 1.3117 EURGBP 0.8947
The talk of a rate hike by the BOE on 2 Nov is reinforced by the upward revision and the BOE may yet feel it is ok for the hike sooner than expected, if not to give them some leeway for more brexit fall, and to save face after all the recent rhetoric, which has seen GBPUSD rally to 1.3650 in a hurry.
Give the last week moving back to 1.3026 we can reasonably assume that the increase is now taken into account. This is not to say, however, we don’t get a reaction from the algos if we are making a hiking. Conversely, we will see further downward pressure if they remain in the queue.
A long way to go until then.



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