• Cable elicits support pre-1.3990 after drop from 1.3440 (intra-day high)

• 1.3390 was Wednesday's Ldn session low (following rise to 1.3468 on UK CPI)

• UK budget strains are negative for sterling (UK spending review on June 11)

• UK May services PMI 50.2 vs 50.0 forecast; manufacturing PMI 45.1 vs 46 f/c

• Trump tax bill advances towards vote on passage in House of Representatives

• UK court blocks signing of Chagos Islands deal at last minute

GBPUSD

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