BOE QIR didn't bring anything new. The market was perhaps a bit disappointed that Kristin Forbes remains the only hawk on the MPC, and she is leaving. The bank is optimistic on the Brexit process but prepared to adjust policy both ways.
Cable fell 50 pips on the release and another 30 during the press conference but 1.2830 - 1.2850 has so far held. If that goes, 1.2750 - 1.28 is where some demand may come in. 1.29 is the initial resistance before 1.2950 - 1.30 band.
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