At 4:30 am ET Tuesday, the Office for National Statistics is set to issue public sector finance data for January. The UK budget balance is forecast to show a deficit of GBP 14 billion versus a surplus of GBP 6.9 billion in December.

Ahead of the data, the pound showed mixed trading against its major rivals. While the pound rose against the euro, the yen and the Swiss franc, it held steady against the U.S. dollar.

As of 4:25 am ET, the pound was trading at 0.8485 against the euro, 1.2531 against the Swiss franc, 1.2422 against the U.S. dollar and 141.19 against the yen.

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