GBP review

Western Union:

The pound sank to new five-year lows under $1.47 as underwhelming U.K. data today added to the host of bearish factors plaguing the British unit. 

U.K. fundamentals have been flashing mixed signals of late but weaker numbers like today's factory growth, record low inflation and the widest trade gap in months suggest that Europe's No. 3 economy lost momentum in the first quarter, factors that have reinforced expectations for the Bank of England to hold off for a while yet on a rate hike, which contrasts the Fed's stride toward tighter policy. 

Britain will post central bank-impacting data next week, with inflation due Tuesday, and unemployment on Friday.