• Cable falls to 1.2874 following UK budget update, OBR news

• 1.2874 is lowest level since March 11 (1.2874 was also low that day)

• 1.2881 was low before UK budget update, after cooler UK CPI data

• 1.2929 was Asia low, pre-UK inflation data (1.2904-1.2966 was Tuesday range)

• DMO to issue 299 billion pounds of gilts in 2025/26; 304 bln was forecast

• U.S. core capital goods orders unexpectedly drop in February

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