The upcoming Bank of England minutes will provide some insight into policy makers thought process but may lose their value considering that the budget release could significantly alter their thinking.

The economic docket is forecasted to show new motor vehicle sales slump 5.0 percent, marking the third decline in the past four months, while wholesale sales is surveyed to expand 0.3 percent for the month of April.

The British pound may look past an interest rate announcement from the Bank of England to fall in line with the trends in risk sentiment, setting up the currency for losses amid an aggressive return to risk aversion.

The economic docket will bring event risk in the form of the PMI manufacturing report as the sector has been the main driver of growth.

The British pound maintained a narrow range after bouncing back from a fresh yearly low.

The British pound is set to trade in line with global equity markets as currency traders and the central bank alike are left waiting for a reading on the fiscal landscape, leaving risk sentiment as the only clear-cut catalyst in the near term.

The British Pound may remain under pressure if the Bank of England continues to sit on the sidelines following a political election that produced a hung parliament.

The British pound may see an early boost from a final Greek bailout agreement but the currency looks decidedly vulnerable ahead of Thursday’s UK general election as traders fret about the future of fiscal policy amid uncertainty at the polls.

Ultimately, Swiss franc direction will come from the European news cycle and broader risk trends which currently are stacking up against the currency.

The British pound erased most of the gains that it built during the past week at the end as a surge in risk aversion saw sterling lose ground against the safe haven dollar and yen.