At 4:30 am Wednesday, IHS Markit is set to release UK construction Purchasing Managers' survey data. The indicator is seen at 51 in March versus 51.4 in February.

Ahead of the data, the pound traded mixed against its major rivals. While the pound recovered from an early low against the greenback, it dropped against the rest of major rivals.

The pound was worth 149.38 against the yen, 1.3468 against the franc, 0.8740 against the euro and 1.4083 against the greenback as of 4:25 am ET.

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