At 2.00 am ET Wednesday, the Office for National Statistics publishes UK consumer and producer price data. Consumer price inflation is forecast to double to 0.8 percent in March from 0.4 percent in February.
Ahead of the data, the pound showed mixed trading against its major counterparts. While it held steady against the franc and the yen, it dropped against the euro and the greenback.
The pound was worth 1.3932 against the greenback, 150.44 against the yen, 1.2762 against the franc and 0.8635 against the euro at 1:55 am ET.