Big 1.2200 option expiry helps to anchor cable after Thursday fall to 1.2165

The size of the 1.2200 strike for 10am ET NY cut is GBP 724 mln nL2N2X5098

1.2165 = two-year low, courtesy of risk aversion and negative UK March GDP

Recovery rally from 1.2165 topped out just shy of 1.2252 (July 2020 low)

USD supported by expectation of 50 bps Fed hikes in June/July nL2N2X433H

CFTC data at 1930 GMT may show 10th consecutive weekly rise in net GBP short