At 4:30 am ET Wednesday, the Office for National Statistics publishes U.K. public sector net borrowing data for May. The budget deficit is forecast to narrow to GBP 6.8 billion in May from GBP 10.36 billion in April.

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

As of 4:25 am ET, the pound was trading at 0.8835 against the euro, 1.2279 against the Swiss franc, 1.2599 against the U.S. dollar and 140.05 against the yen.

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