Cable jumps to 1.2465 on hotter than expected UK April inflation data

CPI 8.7% YY vs 8.2% f/c, core CPI 6.8% vs 6.2% f/c. 1.2439 was pre-CPI high

1.2465 is six pips shy of Monday's high (1.2373 was Tuesday's one-month low)

Above forecast UK inflation is boost for hawks advocating more BoE hikes

Next BoE rate decision on June 22 -- day after UK May inflation data release

On Tuesday, Bailey said 'big lessons' to be learned from UK inflation surge