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At 4.30 am ET Wednesday, the Office for National Statistics is scheduled to release UK public sector finance data for December. Economists forecast the budget deficit to narrow to GBP 5.2 billion from GBP 5.6 billion in November.
Ahead of the data, the pound traded mixed against its major rivals. While the pound dropped against the yen, it held steady against the rest of major counterparts. The pound was worth 1.3049 against the greenback, 143.50 against the yen, 1.2691 against the franc and 0.8492 against the euro as of 4:25 am ET.
