At 2.00 am ET Wednesday, the Office for National Statistics releases UK consumer and producer prices for June. Inflation is forecast to slow to 0.4 percent from 0.5 percent in May.

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

The pound was worth 134.88 against the yen, 1.1825 against the franc, 0.9064 against the euro and 1.2575 against the greenback as of 1:55 am ET.

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