Sterling Rises 0.3% as UK Jobs Data Bolsters November BoE Hike Bets
Updated
Updated · Reuters · Oct 20
Sterling Rises 0.3% as UK Jobs Data Bolsters November BoE Hike Bets
3 articles · Updated · Reuters · Oct 20
Summary
$1.3343 marked sterling's level against the dollar after UK labour data showed payrolls rising, unemployment falling and wage growth beating expectations through August.
November 5 rate-hike bets strengthened with money markets almost fully pricing a 25-basis-point BoE increase and fully pricing four hikes by mid-2027.
84.04 pence per euro left the pound up 0.3% there as well, near its strongest level against the single currency since May 2025.
Some economists cautioned the data mainly supports a November move, with falling vacancies and Brent above $111 keeping the broader policy outlook tied to Middle East-driven energy risks.