At 5.30 am ET Tuesday, the Office for National Statistics releases UK consumer and producer prices for February. Inflation is forecast to ease to 2.8 percent from 3 percent in January.

Ahead of the data, the pound advanced against its major rivals.

The pound was valued at 0.8778 against the euro, 1.3362 against the franc, 1.4055 against the greenback and 149.30 against the yen as of 5:25 am ET.

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