At 4:30 am ET, the Bank of England is slated to release the minutes of the monetary policy meeting held on May 9 and 10. At the two-day meeting, policymakers halted its quantitative easing at GBP 325 billion and retained record low 0.50 percent interest rate.
In the meantime, the Office for National Statistics is scheduled to release U.K. retail sales data. Including automotive fuel, retail sales are forecast to drop 0.8 percent month-on-month and to rise 1 percent from a year ago.
The pound showed mixed trading ahead of the data. While the sterling edged higher against the euro and the Swiss franc, it resumed downtrend against the dollar and the yen. As of 4:25 am ET, the British currency was trading at 1.4944 against the Swiss franc, 1.5715 against the dollar, 124.80 against the yen and 0.8042 against the euro.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.