At 4:30 am ET Tuesday, the Office for National Statistics is slated to release U.K. consumer and producer prices for July and house price index for June. Inflation is expected to rise slightly to 2.7 percent in July from 2.6 percent in June. Output price inflation is seen at 3.1 percent in July versus 3.3 percent in June. Input price inflation is forecast to fall to 6.9 percent in July from 9.9 percent in June.

Ahead of these data, the pound fell against its major rivals.

As of 4:25 am ET, the pound was trading at 0.9082 against the euro, 1.2587 against the Swiss franc, 1.2942 against the U.S. dollar and 142.78 against the yen.

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