The British pound is a net loser on the week, mostly moving on counter currency and risk sentiment flows, but seeing mostly uniform weakness at the end, possibly on political drama.
Overlay of GBP Pairs: 1-Hour Forex Chart
United Kingdom Headlines and Economic data
Monday:
- UK Manufacturing PMI signals contraction as new orders fall and stockpiling activity pauses
Tuesday:
- Retail sales plunge at fastest pace in 24 years, prompting fears of further job losses and store closures
- Sharpest decline in UK construction output since March 2018
Wednesday:
- UK Service sector business activity picks up in May to 51.0 vs. 50.4 previous
Thursday:
- Bank of England’s Carney says dollar’s dominance is under no immediate threat. But changes are coming.
- John Bercow rejects ending Commons session to force no-deal Brexit
Friday:
- Undone by Brexit, May steps down as Conservative leader
- U.K. Court Tosses Case Alleging Boris Johnson Lied in Brexit Campaign
- Peterborough by-election: Labour beats Brexit Party to hold seat
- UK house prices show biggest annual rise since Jan 2017 – Halifax
- UK public foresees highest inflation in decade: BoE
