Cable eyes 1.2500 resistance level after dollar supply-spurred gains

Offers just above 1.25 capped pair at 9-week high after US CPI data Nov 14

1.2507 is 100DMA. 1.2375 was Friday's low (after weak UK retail sales data)

UK budget update from finmin Hunt Wednesday; some Tories want tax cuts

BoE Governor Bailey due to speak at 1845 GMT (UK CPI fell to 4.6% in Oct)

Net GBP short rose to highest since Jan in week ended Nov 14 - CFTC data