• GBP$ -0.96% at 1.2357 in NY afternoon, Wednesday range 1.2493-1.2321

• Catalyst for decline was CNN report on further Trump tariff machinations

• Fed mins hold no new policy nuggets, Fed to remain steady awaiting data

• Fed officials at Dec meeting noted new inflation risks around Trump policies

• Sterling slips to 9-month low after Trump ratchets up tariff volume

• BoE's Breeden speaks Thursday on UK inflation and monetary policy

• GBP outsize dip hints market tipped to more dovish BoE policy path

• Res 1.2370 the 10-HMA, 1.2446 pre-CNN report hrly high, 1.2493 Wed high

• Supt 1.2321 Wednesday 9-month low, 1.2299 late-April 2024 low, 1.2187 Nov 10 2023 wkly low

GBP Chart:

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