• Cable has traded a 27.5 pip range since the London open; 1.3392-1.34195

• Those parameters are well within Tuesday's 1.3367-1.3442 NY session range

• Oil prices rise 2% as hostilities worsen in the Middle East

• U.S. PPI data due 1230 GMT; 0.0% MM, 6.2% YY f/c. Core f/c 0.4% MM, 5.2% YY

• Fed chief Warsh to address Senate Banking Committee from 1400 GMT

• BoE's Bailey says UK economy 'fairly soft'. UK May GDP data due Thursday

GBPUSD


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