Cable falls to 1.1998 before Powell speaks about U.S. monetary policy

1.1998 = intra-day low (1.2000 is 100DMA). 1.2065 was early London high

Fed Chair will address the Senate Banking Committee from 1500 GMT

GBP/USD might fall further if Powell is ultra-hawkish nL1N35B0MI

Money markets currently see 21% chance of 50 bps Fed rate hike March 23

FEDWATCH. BoE's Mann says see pound sensitive to views on Fed, ECB outlook