At 2.00 am ET Wednesday, the Office for National Statistics is slated to issue UK consumer and producer prices for January. Inflation is expected to remain unchanged at 0.6 percent.

Ahead of the data, the pound held steady against its major counterparts.

The pound was worth 147.05 against the yen, 1.2401 against the franc, 1.3881 against the greenback and 0.8707 against the euro at 1:55 am ET.