The dollar sank to a two-month low against its major peers on Wednesday in the lead-up to a key U.S. inflation reading, while sterling scaled a 15-month top on expectations the Bank of England (BoE) has further to go in raising rates.
rose at the joint fastest pace on record as basic earnings in the three months to May surged 7.3%, higher than expectations of a 7.1% rise.
"The will have their heads in their hands following the latest employment and wages figures, as it likely forces them to hike by another 50 basis points at their next meeting and have a terminal rate above 6%," Simpson said.The Japanese yen strengthened past the 140 per dollar level on Wednesday to peak at a one-month high of 139.
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