At 4.30 am ET Thursday, the Office for National Statistics releases UK retail sales figures for May. Sales are forecast to fall 0.8 percent on month, reversing a 2.3 percent rise in April.

Ahead of the data, the pound dropped against its major rivals.

The pound was worth 0.8800 against the euro, 139.27 against the yen, 1.2363 against the franc and 1.2708 against the greenback as of 4:25 am ET.

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