At 4.30 am ET Tuesday, the Bank of England is set to issue mortgage approvals data. The number of mortgages approved in December is seen at 63,500 compared to 65,100 in November.

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

The pound was worth 1.4035 against the greenback, 152.44 against the yen, 1.3126 against the franc and 0.8828 against the euro as of 4:25 am ET.

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