Tripped buy stops have helped inflate cable to 2-day highs just shy of 1.9970 a level at which sell interest is tipped. Additional offers were formerly flagged at 1.9980 and 2.0000.
Helping underpin the pound is the risk that the BoE MPC might raise the UK base rate by 50bp to 5.75% at 11:00GMT tomorrow. A 25bp hike to 5.5% is expected. 1.9941 (yesterday's NY session peak) is now a support point. Lower props include 1.9910 and 1.9880.
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