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The upcoming referendum for Britain to leave the EU continues to outweigh the effects of economic data and keeps the pound within a relative range. Recent polls show a consistent lead for the ‘stay’ camp, which has helped support sterling, with cable up over 450 pips during April.
Data has seen deviations in both directions during April, with misses on employment figures but gains in inflation. Average Weekly Earnings for February missed estimates of 2.3% to come in at 1.8%. Unemployment remained at 5.1%, while Claimant Count Change for March also missed estimates showing a gain of 6,700 versus an expected ... (read more)