• Cable holds above 1.3700 as it consolidates gains from 1.3373 (Monday's low)

• 1.3700 was Thursday's NY session low. 1.3770 was Thursday's 44-month high

• Ascent to 1.3770 fuelled by dollar-negative fears about Fed independence

• U.S. May core PCE data due at 1230 GMT; 0.1% MM f/c. Miss might weigh on USD

• Bessent asks Congress to drop 'retaliatory' tax on foreign investors

• UK PM Starmer offers concessions on welfare cuts to quell Labour revolt

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