07 February 2023, GBP/USD
GBPUSD trading plan:
Pay is perhaps the biggest concern for the BoE, with various gauges of earnings growth hitting what the central bank has called unsustainable levels if inflation is to fall back to its 2% target. Employers' pay award increases are on course to hit a median of 6% in January, the highest reading in over 30 years, provisional data from human resources information provider XpertHR showed. The BoE has been heartened to see public expectations for inflation fall in recent months, meaning the prospect of a damaging wage-price spiral now looks more remote. But policymakers stress that these expectations still remain high by historic standards. Long-run inflation expectations, as measured by the Citi/YouGov survey, have returned within touching distance of their pre-pandemic norm of just above 3%.
Investment idea: range 1.2000 -1.2101.
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