At 4:30 am ET Friday, the Office for National Statistics is set to issue UK industrial output and foreign trade figures for January. Industrial production is forecast to fall 0.5 percent on month in January, reversing a 1.1 percent rise in December. The visible trade gap is forecast to widen to GBP 11.1 billion in January from GBP 10.89 billion in December.

Ahead of these data, the pound rose against its major rivals.

As of 4:25 am ET, the pound was trading at 0.8722 against the euro, 1.2316 against the Swiss franc, 1.2165 against the U.S. dollar and 140.34 against the yen.

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