Cable eases to 1.2332 on higher than expected UK March borrowing data

11.9 billion pounds vs 10.2 billion forecast. 1.2332 = intra-day low

1.2299 was Monday's five-month low, after pound fell on BoE's dovish Ramsden

Recovery rally from 1.2299 topped out 5 pips shy of 1.2367 (pre-weekend low)

UK April flash PMIs due 0830 GMT: services forecast at 53.0; mfg f/c at 50.4

BoE chief economist Pill to speak at 1115 GMT. Next BoE rate decision May 9