UK PM Johnson to announce a rise in minimum wage within weeks -The Times
|Reuters came out with the news, quoting The Times, suggesting that the UK Prime Minister (PM) Boris Johnson will unveil the policy to lift minimum wages in a few weeks.
“UK Prime Minister Boris Johnson will announce a rise in the minimum wage within weeks, as he pledges to end the "broken" model of a low-wage, low growth economy,” said the news.
The Times added, “Johnson will accept recommendations of independent advisers that are likely to boost the pay of the lowest earners to about 9.42 pounds ($12.84) an hour.”
Market reaction
Given the market’s lack of interest in the UK developments of late, considering the RBNZ and US politics gaining major attention, traders paid a little attention to the likely positive news for the GBP/USD. On the contrary, the quote consolidates the four-day uptrend around 1.3625 by the press time of early Wednesday morning in Asia.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.