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.

Read: GBP/USD crawls higher and approaches 1.3650