• Cable rises to 1.3419 intra-day top as lower risk of July Fed hike weighs on USD

• 1.3442 was Tuesday high, after dollar fell on surprisingly soft U.S. CPI data

• Retreat from 1.3442 based 1.5 pips shy of 1.3367 (early NY low Tuesday)

• Fed chief Warsh to address Senate Banking Committee from 1400 GMT

• Burnham is set to replace Starmer as Britain's prime minister next week (July 20)

• FT-Ed Miliband trails Shabana Mahmood in race to become Burnham's chancellor

GBPUSD


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