GBP basking in the support derived from weekly earning - Scotiabank

Analysts at Scotiabank argued that GBP can forget about Brexit, for a little while at least.

Key Quotes:

"Sterling can forget about Brexit for a little while at least and bask in the support derived from this morning stronger than expected weekly earnings data (+3.1% Y/Y for basic wages in Aug’s data – against expectations of a 2.9% gain)."

"Jobs data were a little softer (employment fell 5k) but the strongest wage gains since 2009 suggest that were it not for Brexit risks – which we feel remain significant – markets might be talking about tighter BoE policy risks."