Extending yesterday's late trading uptrend, the British pound rose against its major counterparts during Thursday's early Asian session.
The British February retail sales report that has been slated of release at 4:30 am ET may likely influence deals in the pound pairs. Month-on-month, the retail sales is expected to fall to 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.
The pound climbed to 143.02 against the yen and 1.4623 against the US dollar during Thursday's early Asian trading, with next upside target levels seen at 145.1 and 1.47, respectively. The pound that slipped to a 2-day low of 141.00 versus the Japanese unit yesterday closed the day's deals at 142.00. The pound-dollar pair also weakened to a 2-day low of 1.4518 and was worth at 1.4555 yesterday's New York session closing time.
Corporate service prices in Japan were down 2.6 percent on year in February, the Bank of Japan said today, posting an index score of 92.1. On a monthly basis, corporate service process inched higher by 0.2 percent.
The domestic corporate goods price index was down 1.1 percent on year, the data showed, showing an index score of 105.0. On month, CGPI was off 0.4 percent.
Across the Atlantic, the US fourth quarter GDP, weekly initial jobless and continuing claims are slated for release at 8:30 am ET, today.
Later in the day, Fed's Jeffrey M. Lacker, Richard W. Fisher, Timothy F.Geithner and Gary Stern are expected to deliver speeches.
Partly recouping yesterday's losses, the pound sterling advanced to 1.6398 against the Swiss franc during Thursday's early Asian deals. The next upside target level for the pound-franc pair is seen at 1.66 level. At yesterday's New York session close, the pair was quoted at 1.6324.
Against its European counterpart, the UK currency strengthened to 0.9298 during early Asian session, which may be compared to a 2-day low of 0.9377 hit yesterday. The pair closed yesterday's deals at 0.9336. If the sterling rises further, 0.916 is seen as the next likely target level.
German GfK consumer confidence survey, Italian business confidence and trade balance reports, euro-zone M3 money supply are the among the major economic data's scheduled for the upcoming session.
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