• Cable has traded a 22 pip range thus far Wednesday; 1.3333-1.3355

• Tuesday low was 1.3312, after USD rose on hot US CPI, hawkish Fed officials

• Quarter-point Fed hike on Dec 9 is fully priced; 12% chance of 50 bps hike

• 1.3312 is lowest level since Oct 29 (1.3299 was low that day)

• Tuesday high was 1.3459, before dollar strengthened on Fed's Waller

• Next BoE rate decision on Dec 17: markets see 66% chance of 25 bps hike

GBPUSD

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