Britons' earnings shrank by the most since 2013 | 13 Abril 2022

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Britons' earnings shrank by the most since 2013 in February when adjusted for surging inflation, despite unemployment falling to its joint lowest in almost 50 years. Annual growth in average earnings excluding bonuses picked up to 4.0% from 3.8% but fell short of rising inflation - which hit 6.2% in February - and led to a 1.3% drop in its real value, the Office for National Statistics said. The tight labor market is making many Bank of England policymakers fear that Britain's currently high inflation - pushed up by energy prices and post-pandemic supply-chain difficulties - could become entrenched.

Investment idea: sell 1.3030 and take profit 1.2970.