GBP review

Western Union notes:

With inflation in Britain running at multi-decade lows under zero, the pound is vulnerable to any underwhelming news on the health of Europe's No. 3 economy. 

Buyers of the U.K. currency today are catching it at its most affordable price in nearly a month after Britain's factory sector PMI grew in lackluster fashion, printing at 52.0 in May compared to forecasts of 52.5. 

Softer U.K. data suggest that British interest rates will adhere to record low levels of 0.50 percent for longer, a dovish view compared to expectations for U.S. borrowing rates to increase this year.