Cable has held above 1.2200 thus far Monday; 1.2253 marks the intra-day high

Calm follows last week's volatility storm either side of Fed/BoE event risks

1.2174 was Friday's low, four pips shy of 50% retracement of 1.1934-1.2405

1.1934 = lowest level since March 2020 (pre-Fed). 1.2405 was post-BoE high

Event risks this week include UK CPI data and Powell testimony on Wednesday

UK May CPI f/c 9.1% YY vs 9.0% in April (BoE expects 11% UK CPI in October)