• Cable hits 1.3349 after extending north from 1.3137 (11-month low Wednesday)

• 1.3349 is highest level since Sept 22 (1.3386 was the high that day)

• Short-covering has aided the two-cent+ rise to 1.3349

• CFTC data showed net GBP short hit 14-week high in week to Oct 6

• Diminishing probability of Fed rate hike this month weighs on dollar

• Probability of Oct 28 Fed hike is now 15% vs 50% (briefly) on Wednesday

GBPUSD

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