The BOE has just cut the official bank interest rate by 50Bps from 1.50% to 1.00%..
Cable initially reacted by dipping from 1.4500 to 1.4480 before recovering and making headway towards 1.4550 and the daily highs at 1.4561.
EURGBP looking soft and i would not be surprised to see a full scale assault on the all important 0.8800/20 level tonight.
