Pound Strengthens on Upbeat Wage Data, Cautious Brexit Optimism
- Sterling benefiting from fading risk of hard Brexit: Investec
- Parliament taking control of Brexit seen pound-positive: CA
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The pound gained for a second day as upbeat U.K. employment data buoyed investor sentiment that was already underpinned by optimism the nation will avoid a no-deal Brexit.
Sterling rose above $1.29 as official data showed wage growth in Britain was the fastest since the financial crisis during the three months through November, while the unemployment rate declined to match the lowest level since 1975. The currency had advanced Monday as U.K. Prime Minister Theresa May told lawmakers she would involve them in the Brexit process.