Cable jumped a cent yesterday after BOE governor Mark Carney's commented that "some removal of stimulus likely to be needed as spare capacity erodes". There was some follow through overnight. U.S. dollar weakness across the board helps to sustain those gains.

The pair is trading just below 1.30 big figure level which is the initial target ahead of May high near 1.3050. A break above that is not all that unlikely in the days ahead. 1.29 - 1.2925 should hold if this rally still has some legs.

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