Cable has traded a half-cent range thus far Friday; 1.2176-1.2226

Loss consolidation is the big-picture story: 1.2331 was Thursday's high

1.2173 was Thursday's low, after USD strengthened on above forecast US CPI

There is a large 1.2200 option expiry for the 10am ET NY cut (1400 GMT)

Bailey: future BoE rate decisions will be tight. 6-3 Nov hold vote likely

England and Wales insolvencies rise 17% on year in September nL8N3BJ20X