Sterling implied volatility gauges slipped across the board, extending a recent decline, to their lowest levels since January 2018, as no significant Brexit-related developments were expected this week.
Total earnings, including bonuses, rose by an annual 3.5 per cent in the three months to February, the Office for National Statistics said, matching the median forecast in a Reuters’ poll of economists.
It was the joint highest rate since mid-2008.
The pound was broadly steady at $1.3089 against the dollar and flat against the euro at 86.36 pence.
But with the possibility of months of uncertainty in Britain as politicians struggle over how – or whether – to leave the EU, investors are broadly staying away from the pound.
Valentijn van Nieuwenhuijzen, CIO at NN Investment Partners, which manages 246 billion euros or $278.13 billion in assets, said he is steering clear on bets on the pound and only taking positions to hedge overall portfolio risks due to the political uncertainty.
Investor surveys also highlighted that uncertainty.
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