At 5:30 am ET Thursday, the Office for National Statistics is set to release U.K. retail sales figures for February. U.K. retail sales are forecast to grow 0.4 percent on month in February, reversing a 0.3 percent fall in January.

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

As of 5:25 am ET, the pound was trading at 0.8641 against the euro, 1.2395 against the Swiss franc, 1.2471 against the U.S. dollar and 138.58 against the yen.

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