The pound depreciated against its key counterparts during European deals on Wednesday, after Bank of England policymaker Michael Saunders joined his peers in supporting a potential interest rate reduction and as U.K. inflation eased to its lowest since November 2016 ahead of the interest rate-setting meeting this month.
Data from the Office for National Statistics showed that UK consumer price inflation eased to a three-year low in December.
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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.