Whippy, gappy moves galore
The overnight news that the BOE's Weale is now in favour of immediate stimulus sent cable lower but it recovered largely because August action has already been telegraphed. Some decent mortgage lending also helped on the upside and then stops ran to a session high of 1.3176.
From there a good set of US data put on some downward pressure. That accelerated in a flurry down to a session low at 1.3058 ahead of the London fix. It slowly climbed back from there until hitting a mini-air pocket in the past few minutes.
