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17 Nov 2022

UK's Hunt: Will raise minimum wage by 9.7%

UK Finance Minister Jeremy Hunt is presenting the Autumn Budget to parliament.

Key takeaways

"Will cap increase in rents on public housing to maximum 7%."

"Will raise minimum wage by 9.7%."

"Hourly rate of minimum wage will rise to 10.42 sterling."

"Will raise working-age and disability benefits in line with inflation."

"Rise in benefits will cost 11 billion sterling."

"Will increase pension credit by 10.1%."

"Will increase state pension in line with triple lock."

Market reaction

GBPUSD stays under modest bearish pressure and was last seen trading at 1.1830, where it was down 0.65% on a daily basis.

Nov 17, 2022

USDJPY trades with modest gains amid stronger USD, lacks follow-through beyond 140.00

The USDJPY pair continues to show resilience below the 139.00 round figure and regains some positive traction Thursday. The momentum lifts spot prices
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Nov 17, 2022

EURUSD still has the 1.05 level in its crosshairs – Scotiabank

EURUSD faltered around 1.0400 and is edging lower on Thursday. Still, economists at Scotiabank expect the pair to target the 1.05 mark. Minor EUR dips
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