• Cable falls to 1.2918 as pound dips on lower than expected UK Feb CPI print

• 2.8% YY vs 2.9% forecast. 1.2918 = intra-day low (1.2904 was Tuesday's low)

• 1.2929 was Asia low, pre-UK inflation data. UK services CPI 5.0% vs 4.9% f/c

• Cooler headline CPI print is boost for doves advocating BoE rate cut in May

• Reeves to deliver UK fiscal update to MPs from 1230 GMT (after PMQs)

• GBP/USD resistance levels include 1.2966 (Tuesday's high), 1.2974 and 1.30

GBPUSD

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