The Office for National Statistics releases U.K. retail sales for June at 4:30 am ET Thursday. Ahead of the data, the pound dropped against its major rivals.

The pound was worth 147.10 against the yen, 1.3038 against the franc, 0.8916 against the euro and 1.3022 against the greenback as of 4:25 am ET.

Grafico Cross Sterling vs US Dollar (FX:GBPUSD)

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Grafico Cross Sterling vs US Dollar (FX:GBPUSD)

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