Sentance very likely will not get his way in seeking higher UK base rates but the juxtaposition of hawkish talk from the MPC member coupled with a dovish statement from the FOMC helped give cable a boost as high as 1.5640. We consolidate now around 1.5620.

The pound is lagging the euro’s rally, however, as EUR/GBP surges on demand for EUR across the board as an alternative to the QE-addled dollar.