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Investing.com -- Sterling fell slightly on Tuesday following data showing a slowdown in British wage growth for the three months to August, which suggests the Bank of England may continue its gradual interest rate reduction path.
The pound dropped 0.35% against the dollar to $1.3293, reversing its modest gains from earlier in the day before the wage data was released.
Against the euro, the British currency also weakened, with the euro climbing 0.36% to 87.09 pence. This puts the euro on course for its largest daily increase against the pound in nearly a month.
The slowdown in average UK earnings growth indicates the central bank might have room to continue cutting interest rates, though likely at a measured pace.
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