At 4.30 am ET Friday, the Office for National Statistics releases UK public sector finance data. The budget deficit is expected to narrow to GBP 4.1 billion in May from GBP 5.8 billion in April.

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

The pound was worth 1.2679 against the greenback, 136.15 against the yen, 1.2464 against the franc and 0.8915 against the euro as of 4:25 am ET.

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