The U.K. CPI and PPI for January and house price index for December are set for release at 4:30 am ET Wednesday. Ahead of these data, the pound retreated from its early highs against its major rivals. The pound was worth 1.2985 against the greenback, 143.13 against the yen, 1.2772 against the franc and 0.8319 against the euro as of 4:25 am ET.

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