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Forex: Labour market data

Sterling slightly firmer after latest labour market data, which showed the rate steady at 6.0%, with increase in wages slightly more than expected at 1.0% on headline (3M Y/Y measure) and 1.3% on underlying measure. The market awaits the Inflation Report at 10:30 GMT, which is expected to be more on the dovish side, especially in relation to sentiment mid-year when Carney was suggesting market was under-estimating the risk of a rate increase this year.

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