• GBP$ near flat at 1.3537 in NorAm afternoon trade; Monday range 1.3576-1.3500

• Early NorAm session high at 1.3576 faded as Mideast peace prospects ebbed

• Oil higher, lifting UK inflation; high rates a double-edged sword as fiscal concerns rise

• Markets shifting gaze to upcoming DM c.bank rate announcements Fed Apr 29, BoE Apr 30

• No changes expected this week, traders keen to hear c.bank guidance on inflation, policy

• UK political uncertainty elevated as well ahead of May local elex, Mandelson noise

• GBP$ res 1.3576 Monday high, 1.3599 daily high Apr 17, 1.3637 upper 30-d Bolli

• Supt 1.3500 Mon low/psychological lvl, 1.3464 100-DMA, 1.3395 daily cloud base

GBP Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)