We will be getting the release of the UK CPI data for June at 0830 GMT
Inflation pressures are once again expected to hold steady in the UK, similar to what we have seen in May here. The issue here is this isn't really a focal point for the pound in the big picture as political woes and Brexit uncertainty continue to dominate the landscape.
The BOE may take comfort that inflation is seen holding around their desired target level but it isn't something they can do anything about considering where the UK economy is at right now (Q2 growth seen contracting as a matter of fact) and odds of a potential no-deal Brexit seen increasing over the past week.
Hence, even if the report here is solid and the data reaffirms steady inflation in the UK, it won't do much to change the overall picture that the pound outlook remains bleak considering the current circumstances.
Unless fears surrounding Brexit abate, it's hard to imagine the pound getting any sustainable lift from positive data points barring short covering from stretched positioning. Even then, any relief is to be short-lived as long as there is no solution to the Brexit saga.
