Investing.com - The average earnings index in the U.K. increased less than expected in the three months to October, dampening the case for higher interest rates, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the average earnings index, including bonuses, rose by a seasonally adjusted 2.4% in the three months to October, missing forecasts for a gain of 2.5% and after increasing by 3.0% in the three months to September.
Excluding bonuses, wages rose by 2.0%, below expectations for 2.3% and following a 2.4% increase in the three months to September.
GBP/USD was trading at 1.4994 from around 1.5002 ahead of the release of the data, while EUR/GBP was at 0.7289 from 0.7285 earlier.
Meanwhile, European stock markets were mixed in quiet trade. London's FTSE 100 tacked on 0.4%, the EURO STOXX 50 shed 0.1%, France's CAC 40 advanced 0.1%, while Germany's DAX dipped 0.1%.
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