The British pound edged up against the currency of Singapore during Thursday's early trading. The pair that was worth 2.1969 at yesterday's close, hit as high as 2.2060 by about 1:15 am ET. On the upside, the UK currency may likely target the 2.23 level against the Singapore dollar.

The British February retail sales report that has been slated for release at 4:30 am ET may likely influence deals in the pound pairs. Month-on-month, the retail sales is expected to fall by 0.4%, compared to previous reading of 0.7%. Retail sales is expected to slow to 2.5 percent year-on-year in February from 3.6 percent in the previous month.

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