The pound came under pressure again in a rush 4 April

The old 06.00 GMT seems to have now morphed into 04.00 GMT (05.00 BST) and that may go some way toward explaining an algo-led move in the pound.

Regular readers will recall that we had a run of sessions where we got spike up or down in GBP pairs at 06.00 GMT but nothing of note lately.

Today though GBPUSD fell to 1.2470 then 1.2460 from 1.2490 after failing to breach 1.2500 again. EURGBP rallied to 0.8555 from 0.8540 while GBPJPY fell to from 138.08 137.65

Take your pick on the prime mover (I'm going for GBPJPY again given the general softer tones to JPY pairs and the hedge fund penchant for the pair) but there's no news headline to justify it and the timing of it ( bang on the hour) suggests it was programmed, even if someone did press the button.