At 4:30 am ET, the Bank of England is scheduled to release the minutes of the monetary policy meeting held on July 3 and 4. At the first MPC meeting of Mark Carney, the committee maintained GBP 375 billion bond purchase programme and the record low 0.50 percent.
In the meantime, the Office for National Statistics is set to issue the U.K. unemployment data. The claimant count is forecast to fall by 8,000 in June after declining 8,600 in May. The ILO jobless rate is seen unchanged at 7.8 percent during three months to May.
The pound showed mixed trading against its major rivals ahead of the minutes and data. While the sterling edged higher against the dollar and the yen, it drifted weaker against its European peers. As of 4:25 am ET, the British sterling was trading at 1.5115 against the dollar, 150.70 against the yen, 0.8703 against the euro and 1.4207 against the Swiss franc.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.