• GBP/USD takes offers to refresh intraday low, extend the previous week’s pullback from 10-month high.
• Risk aversion, hawkish Fed bets underpins US Dollar rebound amid Easter Monday holiday.
• BoE Governor Bailey’s speech will be eyed closely amid receding hawkish bias from major central banks.
• US inflation, Fed Minutes and UK politics over Brexit will also be crucial to watch for clear directions.

GBP/USD takes offers to refresh the intraday low near 1.2400 during early Easter Monday morning in London. In doing so, the Cable pair drops for the fourth consecutive day as the US Dollar recovers amid the risk-off mood. Adding strength to the pullback moves could be the hawkish hopes from the US Federal Reserve (Fed), versus recent doubts about the Bank of England’s (BoE) next move.

That said, fears emanating from China, mainly due to the dragon nation’s military drills near the Taiwan Strait, seem to underpin the US Dollar’s rebound. Taiwan President Tsai Ing-wen’s US visit triggered a fresh bout of US-China woes as Beijing conducts strong military drills near Taiwan Strait. “China's military simulated precision strikes against Taiwan in a second day of drills around the island on Sunday, with the island's defense ministry reporting multiple air force sorties and that it was monitoring China's missile forces,” reported Reuters.