Cable has traded a 35 pip range thus far Wednesday; 1.2309-1.2344

That range is within Tuesday's parameters (1.2292-1.2375), and Monday's too

1.2262-1.2405 was Monday's range (1.2262 = lowest level since June 2020)

U.S. April CPI data due at 1230 GMT; core f/c +6% YY, headline f/c +8.1% YY

See: nL2N2X212E. 50 bps Fed hikes expected in June and July nL2N2X21PD

UK to enter recession this year, think-tank NIESR forecasts nL5N2X2762