Pound Rises as Markets Bet on Fed Rate Cuts, UK Debt Outlook Improves
- GBP/USD edged above 1.26 as markets increasingly bet on Fed rate cuts in June
- Markets see over 70% chance of a June rate cut, depending on continued falls in inflation
- Bank of England suggests rates may have peaked but inflation limits cuts
- Pound gets some support from Fitch upgrading UK debt rating to 'stable'
- Near-term GBP moves may follow Tuesday's US durable goods orders data