Cable rises to 1.2753 after hotter than expected UK April inflation data

UK CPI up 2.3% YY vs 2.1% forecast. Services CPI up 5.9% vs 5.5% forecast

1.2753 is highest level since March 21, and 76.4% Fibo of 1.2893-1.2299

1.2709-1.2722 was Asia range (pre-CPI data). 1.2687-1.2727 was Tuesday range

Above forecast UK CPI is blow for doves advocating BoE rate cut on June 20

BoE's Bailey assessed money market impact of gilt sales in Tuesday speech