• Cable hits 1.3280 after extending south from 1.3445 (Monday's 38-month high)

• 1.3280 is lowest level since April 25 (1.3275 was low that day)

• Drop to 1.3280 influenced by profit-taking on longs (1.3310 = Wednesday low)

• English local elections expected to boost Reform UK party led by Farage

• UK finmin Reeves under investigation by parliament's standards commissioner

• Co-op is latest British retailer to be hit by cyber attack

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