• Cable has traded a 25 pip range since the London open; 1.3482-1.3507

• 1.3482 is 2.5 pips above Asia low; 1.3507 is four pips shy of Asia high

• UK April services PMI 52 vs 50 forecast; manufacturing PMI 53.6 vs 50.3 f/c

• PMI data spurs hawkish shift in BoE interest rate expectations

• Pound rises to four-week high vs euro, just shy of 1.1550, on PMI data

• Mandelson scandal shatters UK PM Starmer's promise of stable government

GBPUSD


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