• Cable dips to 1.3377, then rallies to 1.3406, after cooler than expected UK inflation data

• CPI up 2.8% YY in April vs 3.0% forecast. 1.3377 = fractionally fresh two-day low

• 1.3406 is intra-day high. 1.3378-1.3401 was Asian session range (pre-UK CPI data)

• Cooler CPI print is boost for doves opposed to BoE rate hike in June

• BoE's Bailey, Breeden, Mann and Dhingra to address UK TSC from 1315 GMT

• UK PMQs 1100-1130GMT; first since Labour's poor local election results

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