At 4:30 am ET Wednesday, the Office for National Statistics releases U.K. industrial output data. Production is forecast to rise 0.2 percent on month versus a -0.4 percent in September.

Ahead of the data, the pound declined against its major counterparts.

The pound was valued at 1.2632 against the greenback, 144.22 against the yen, 1.2749 against the franc and 0.8491 against the euro as of 4:25 am ET.

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