• Cable has traded a meagre 16.5 pip range thus far Tuesday; 1.36225-1.3639

• The base of that range is 1.5 pips above Monday low (1.3619 was Friday low)

• U.S. Treasury buybacks a "mistake" costing credibility, says Druckenmiller

• Dollar fell on last week's buyback news, with GBP/USD vaulting 1.3600

• 1.36745 was six-month high for cable on Friday (before retreat to 1.3619)

• Bond market anxiety raises stakes for Warsh's debut Jackson Hole speech

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)