At 2.00 am ET Wednesday, the Office for National Statistics releases UK consumer and producer prices for December. Consumer price inflation is forecast to rise to 5.2 percent in December from 5.1 percent in November.

Ahead of the data, the pound showed mixed trading against its major counterparts. While it rose against the greenback, it held steady against the euro. Against the yen and the franc, it dropped.

The pound was worth 155.49 against the yen, 1.2460 against the franc, 1.3602 against the greenback and 0.8332 against the euro at 1:55 am ET.

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