• GBP$ under pressure in NY afternoon trade, -0.11% at 1.3494; Wed range 1.3540-1.3492

• Post-CPI gain to 1.3540 evaporated as UST yields rose off session lows

• US consumer inflation mild in July, economy still not out of the woods

• For all the CPI noise, GBP$ remains anchored by 1.35 awaiting econ, c.bank, geopol news

• Next week's UK CPI now in focus for clues to speed and tenor of BoE policy path

• indicates Fed, BoE on parallel paths likely hikes in Oct/Nov, +26bp by Dec meets

• GBP$ supt 1.3485 daily low Aug 10, 1.3471 daily conversion line, 1.3399 daily cloud top

• Res 1.3540 ed high, 1.3556 daily high July 15, 1.3658 daily high May 1

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(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)