The pound fell before the publication of the report on inflation

The pound fell for a fifth day against the dollar, indicating that this is the longest period of decline since January and ahead of the Bank of England this week. Participants in currency trading are focused on the referendum in the country next month, as it relates to Britain's membership of the European Union.
The pound showed weakness against most major currencies before the meeting of the Central Bank on May 12, and also for the publication of reports this week that economists predict will show reduction of industrial production of Great Britain and Northern Ireland.
At the same time none of economists in a Bloomberg survey expected any change in the policy of the Bank of England. Moreover, the authorities are planning to publish quarterly inflation report of the central bank.

Analysts said the weakness of the pound may be a reflection of expectations that data this week will come out weak, and also it is a reaction to the movement of the dollar related to the referendum question.

On June 23 will be held a referendum on membership in the EU. Supporters of the union with the bloc argued that the economic welfare of Britons would suffer outside the EU. On Monday, British Prime Minister David Cameron made a patriotic appeal to the British citizens, once again urged not to vote to leave the EU next month.

A study conducted in Great Britain and Northern Ireland on the issue of EU membership shows that 44% of people want to stay in the bloc, while 46% want to leave the EU.