• +0.35% near the top of a very busy 1.2132-1.2195 D3 range with the USD -0.3%

• Broad USD weakness as UST yields slumped in NY and extended losses in Asia

• UK construction sector shrinks at the fastest pace since the pandemic: RICS

• Despite a struggling economy, the BoE is expected to keep rates steady

• Focus on the tone of the Monetary Policy Statement, BOE Bailey's comments

• Charts; 5, 10 & 21-day moving averages, plus momentum studies head higher

• 21-day Bolli bands contract - modest positive setup targets 1.2337 range top

• Choppy consolidation in the October - 1.2038-1.2337 broad range to extend

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