(Corrects data in bullet 2 to PPI)

• GBP$ under pressure in NorAm session, -0.51% at 1.3469; NY range 1.3517-1.3460

• Wednesday's rally on soft US PPI and talk of fiscally responsible UK FinMin faded

• Pair unable to add to Wednesday's 1.3556 2-month high as US-Iran truce wanes

• Oil a touch lower, UST yields off session highs; risk broadly under pressure; stox, metals lower

• EZ HICP the next key data set m/m seen lwr, y/y steady at 2.8%; Japan CPI on July 23

• GBP$ supt 1.3460 Thurs low, 1.3437 daily cloud top, 1.3399 flat 200-DMA

• Res 1.3512 bruised upper 30-d Bolli, 1.3556 Wednesday 2-mos high, 1.3610 May 12 daily high

• For all the cheer at the FinMin headline Wednesday, UK 10-yr gilt yields remain near 5%

GBP$ Chart:


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