Catharine Mann, a member of the Monetary Policy Committee (MPC) of the Bank of England (BoE), discussed weakening labor market conditions and significant delays in service inflation, which will directly impact interest rate decisions on Thursday.

The euro may face pressure due to increased profit-taking regarding the potential interest rate cuts by the European Central Bank (ECB) in June. Madis Muller, an ECB policy setter, stated that the central bank is entering a phase of considering interest rate cuts. Additionally, Yannis Stoumaras of the ECB mentioned a consensus on interest rate cuts in June.

Investors are eagerly awaiting updates from Philip Lane, Chief Economist of the ECB, along with economic data releases and economic confidence indicators. Furthermore, there is a forthcoming report on the Bank of England's meeting in the next few days.