Cable has traded a 20 pip range thus far Wednesday; 1.2614-1.2634

Peak of that range is 3 pips shy of Tuesday's high. 1.2580 was Tuesday's low

1.2668 was Monday's 54-week high. U.S. April inflation data due at 1230 GMT

CPI forecast at 0.4% MM, 5.0% YY; core CPI f/c 0.4% MM, 5.5% YY nL1N3760RN

BoE rate decision Thursday: 25 bps increase to 4.5% expected nL8N37188V

Biden and McCarthy to resume U.S. debt ceiling talks on Friday nL1N37617L