At 2.00 am ET Wednesday, the Office for National Statistics publishes UK consumer and producer prices for November. Inflation is expected to ease to 3.9 percent from 4.2 percent in October. Output price inflation is seen at 7.3 percent versus 8 percent in the previous month.

Ahead of the data, the pound traded mixed against its major counterparts. While it held steady against the euro, it advanced against the rest of major rivals.

The pound was worth 1.3241 against the greenback, 150.50 against the yen, 1.2230 against the franc and 0.8514 against the euro at 1:55 am ET.

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