Market News
Sterling holds near two-month high after UK wage data - REUTERS
Feb 18 (Reuters) - Sterling eased on Tuesday but stayed close to its recent two-month highs, as data showed accelerating British wage growth, reinforcing bets for a cautious rate cut path ahead for the Bank of England, despite a weak economy.
The pound was last down 0.2% against the dollar at $1.25995, but was not far from the $1.2635 level it touched on Monday, the highest since December 19.
British private-sector pay excluding bonuses - the BoE's main gauge of domestic inflation pressure - rose by 6.2% compared with the same period a year earlier, the fastest pace in a year, the Office for National Statistics said.
