• Cable hugs 1.35 before UK PMQs (1100-1130 GMT) and Fed event risk

• 1.3496 was early London low, as safe-haven dollar rose on higher oil prices

• Trump urges Iran to sign a deal after report suggests U.S. may extend blockade

• Last PMQs before UK parliament prorogued (next session starts on May 13)

• UK local elections next week (May 7). Fed rate hold expected at 1800 GMT

• Fed chief nominee Warsh set to clear key confirmation hurdle at 1400 GMT

GBPUSD


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