The GBP/USD exchange rate has been influenced by a slew of economic data, leading to a subdued performance of the Pound in the forex market. The unexpected decline in UK’s GDP coupled with the prevailing economic uncertainties has been a concern for investors. Additionally, the UK saw an increase in unemployment by 207,000 individuals over the three months leading to July. On the flip side, the Australian economy showcased strength last week, especially with employment data significantly surpassing expectations with an addition of 64.9k jobs. This positive data bolstered market expectations of the Reserve Bank of Australia possibly continuing with rate hikes. This week, the spotlight will be on the monetary policy decision of the Bank of England. While an interest rate hike of 0.25% is officially anticipated on Thursday, conflicting remarks from officials last week have muddled the forecasts.