Gbp/usd - 1.5886 ... The British pound traded in a volatile manner inside 1.5820-1.5925 despite y'day's widely expected BOE rate decision. Prime Minister David Cameron and Nick Clegg, his Liberal Democrat deputy, wrote to Cabinet colleagues this week to remind them that the most urgent issue facing Britain is 'deficit reduction and continuing to ensure economic recovery'. Investors are focusing on the release of U.K. industrial production n PPI data at 08:30GMT. Bids are noted at 1.5860/65 n 1.5830/40 with stops building up below 1.5820 n 1.5800. On the upside, offers are tipped at 1.5920/25 n 1.5950/60.