The Pound to Dollar rate fell overnight in Asia following another cut to the People’s Bank of China’s GBP/CNY fix but that won’t last long after Sterling offers up a “Red Pill,” and Kate Bush of the Celts sings “Running Up That Hill.”

The People's Bank of China signalled a strong preference on Tuesday for stabilizing, or potentially strengthening, the trade-weighted renminbi, a move that could impact the US dollar and other currencies.

The Bank sees increasing reason to signal it can step up the pace of interest rate cuts.

Pound Sterling was ‘standing to’ on Tuesday after the Chinese Renminbi seemingly sought to prevent the Graceful and New going out to the Carribean Blue, leading an old band to sing, “I’ll be watching you.”