GBP/USD moves above 1.2700 due to rising odds of a Fed rate cut in September – FXStreet

The GBP/USD pair has surged above the 1.2700 level as the likelihood of a Federal Reserve interest rate cut in September has increased. This move comes as traders anticipate the Fed taking action to stimulate the economy amidst ongoing global uncertainties. The rising odds of a rate cut have boosted the value of the British pound against the US dollar, with the pair now trading above the key resistance level. Investors are closely watching for any signals from the Fed regarding its monetary policy stance in the coming months.