The monetary unit of the U.K. dipped on Tuesday against all 16 of its top rivals after the chief of the Bank of England tamped down confidence about an increase to interest rates, according to Bloomberg.
Governor Mark Carney said wage information as of late has been less than projected by the BOE, prompting the pound to backtrack after approaching its highest value since 2009 against the U.S. dollar.
"It's notable that Carney focused on the lack of wage growth," foreign-exchange strategist Peter Kinsella with Commerzbank AG in London told the news source on Tuesday. "As a result, there's been seen some marginal position shifting with sterling weakening. If wage growth continues to disappoint, the BOE will have to take that into account."
The pound dropped roughly 0.2 percent against the greenback on Tuesday. It fell about 0.3 percent against the shared currency of the European Union.
Reuters reports the BOE chief made his comments while addressing lawmakers in Great Britain, noting additional space in the labor market will be balanced when compared with healthy growth and development.
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