GBP review

Western Union:

Signs of stiffening headwinds on Britain's economy had the pound on pace of a week of general underperformance. 

The big blow to sterling sentiment came from news this week that Britain's services, a vital growth engine, experienced its largest monthly decline, a 3-point drop to 56.5 in May, in more than three years. 

Coupled with the weakest inflation since the 1960s the wait for a U.K. interest rate hike has seemingly grown a bit longer, weighing on the pound.