GBP Surges as Traders Bet on Steady Fed Policy

The British Pound (GBP) has strengthened against the US Dollar (USD), with prices rising by 0.35% to near 1.3533 during the European trading session on Friday.

This move comes as traders reassess their bets on an interest rate hike by the Federal Reserve (Fed) in September, with the odds of a steady policy now at almost 65%, up from 75% just a month ago.

The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, has declined by 0.23% to near 99.70.