UK CIPS/Markit services PMI is due at 4.30 am ET Monday. The index is expected to drop to 54 in January from 54.2 a month ago.

Ahead of the data, the pound recovered from early lows against its major rivals. The pound was worth 1.4143 against the greenback, 155.35 against the yen, 1.3137 against the franc and 0.8816 against the euro as of 4:25 am ET.

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