Cable met headwind just beyond 1.2350 after rallying off 1.2297 (2-day low)

There is a decent size 1.2350 option expiry for the 10am ET NY cut

1.2297 was plumbed as equity losses hurt risk-sensitive pound nL1N3350JE

1.2378 was Asia low. 1.2346-1.2446 was post-Fed hike range Wednesday

BoE rate decision at 1200 GMT; 50 bps hike to 3.5% expected nL8N3344CI

Possible four-way vote split on MPC (Tenreyro and Dhingra most dovish)