On Thursday comments from governor of the Bank of England weighed on the pound, with the sentiment following through into European trade on Friday. The pound weakened to the lowest value against the US dollar since July 2013. Disappointing data released by the ONS, showed that construction output had collapsed by 2.6% in January compared to December.
Next Wednesday (18 March) the Bank of England releases the minutes from their meeting held on 4 and 5 March. The March rate announcement marked 6 years that the interest rates have been at the record low of 0.50%.