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Forex: Weaker earnings data push sterling lower

Sterling down around 20 pips after weaker than expected earnings data in the labour market report. Earnings wer down 0.2% on 3M YoY measure, ex-bonus measure was up 0.6% (vs. 0.7% previously). Headline impacted by bonus payment timing issues. Focus on Inflation Report in 1 hours time, given this will be first since Carney’s hint in June that markets were under-estimating the risk of a rate increase this year.

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