• Cable hits 1.3466 after extending south from 1.3493 (pre-UK CPI data high)

• 1.3466 is two pips shy of Monday's five-week low (1.3455 is 200DMA)

• UK CPI rose to 3.1%, as expected; BoE rate hold still expected on Thursday

• Warsh's words may matter more than the anticipated Fed rate hike today

• Fed rate decision at 1800 GMT; Warsh briefing starts at 1830 GMT

• U.S. August retail sales data due at 1230 GMT; up 0.8% MM forecast

GBPUSD

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