At 4.30 am ET Wednesday, UK Markit/CIPS composite PMI is due. The composite indicator is forecast to match the flash estimate of 52.4 in January.

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

The pound was worth 1.3037 against the greenback, 142.94 against the yen, 1.2649 against the franc and 0.8466 against the euro as of 4:25 am ET.

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