Cable retreats to 1.2068 amid risk aversion (the pound is risk-sensitive)

European bank stocks plunge again as SVB market turmoil continues

1.2068 is lowest level for GBP/USD since 1.2141 Asia session high

Bids may emerge near 1.2040 (Asia low) and 1.2000 if cable falls further

1.2012 was pre-weekend pullback low from Friday's 1.2112 peak

SVB failure spurs dovish shift in Fed and BoE expectations nS8N32B022