At 4.30 am ET Wednesday, UK final composite PMI data is due. The composite index is forecast to rise to 49.8 in February from 41.2 in January.

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

The pound was worth 1.3989 against the greenback, 149.53 against the yen, 1.2818 against the franc and 0.8636 against the euro as of 4:25 am ET.