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The Office for National Statistics is scheduled to release U.K. CPI and PPI for October at 4.30 am ET Wednesday. Headline inflation is forecast to climb to 2.5 percent from 2.4 percent.
Ahead of the data, the pound slipped against its major rivals.
The pound was worth 1.2966 against the greenback, 147.57 against the yen, 1.3079 against the franc and 0.8700 against the euro as of 4:25 am ET.
