The pound came off 26-year highs but stayed well bid above the 2 dollar level as the flow of strong UK data proved relentless. Coming on the heels of a record surge in inflation, wage growth hit a high not seen in nearly three years, suggesting that the outlook for inflation may worsen over the coming months. Average earnings growth including bonuses jumped to 4.6 pct in the three-month period from the year earlier, after a 4.2 pct rise in January. The figure is cause for concern at the Bank of England as it has vaulted above the 4.5 pct level thought to stoke inflationary pressures. After the news, the pound jumped to 2.013 usd, a new multi-year high, before slipping back. The data coincided with the release of the minutes to the Monetary Policy Committee's April meeting, where the MPC opted to leave interest rates on hold at 5.25 pct. The minutes showed a 7-2 vote to hold in April but essentially confirmed market expectations that the Bank of England will hike rates in May. In any event, the minutes have been overtaken by events, with yesterday's surprise jump in key CPI inflation to 3.1 pct already making a May hike all but certain. The spate of strong data has even led to talk of a hefty half-point rate hike, to 5.75 pct in May, BNP Paribas analysts said. Fuelled by such speculation, the pound was well underpinned, with BNP Paribas analysts suggesting that sterling's rise above 2.011 usd may open the way for further gains up to 2.037 usd.