• Cable holds below 1.36 after dropping through the level on Thursday

• Drop through 1.36 spurred by Iran-US clashes (dollar is safe-haven)

• 1.3633 was Thursday's high - before the flare-up in the Middle East

• There is a big 1.3600 option expiry for the 10am ET NY cut (1400 GMT)

• UK's Labour Party punished in local elections, raising pressure on PM Starmer

• US jobs data due at 1230 GMT; April NFP forecast at 62k. Jobless rate f/c 4.3%

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(Robert Howard is a Reuters market analyst. The views expressed are his own)