GBP review

Western Union notes: 

Sterling soared to one-month highs, basking in a better week for Britain's economy with inflation back above zero and U.K. wages up. 

As expected, U.K. central bank minutes were unanimous in voting to keep rates at a record low of 0.50 percent. The minutes put the onus on the inflation outlook as the chief driver of when rates would rise. And the barely above zero rate of inflation reinforced expectations that rates would stay put over the coming quarters. 

In line with forecasts, British unemployment idled at 5.5 percent in April, a seven-year low. The pound could lose ground as soon as tomorrow if U.K. retail sales should stagnate which is the expectation.