Investing.com - The average earnings index in the U.K. increased less than expected in the three months to September, 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 3.0% in the three months to September, missing forecasts for a gain of 3.2% and after increasing by 3.0% in the three months to August.
Excluding bonuses, wages rose by 2.5%, below expectations for 2.7% and following a 2.8% increase in the three months to August.
GBP/USD was trading at 1.5141 from around 1.5170 ahead of the release of the data, while EUR/GBP was at 0.7095 from 0.7081 earlier.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 tacked on 0.6%, the EURO STOXX 50 rose 0.7%, France's CAC 40 advanced 0.65%, while Germany's DAX jumped 1.1%.