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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