• Cable hits 1.2740 after extending north from 1.2679 (Asian session low)

• 1.2740 is highest level since Dec 12 (1.2787 was high that day)

• USD weighed down by lower UST yields, dovish shift in Fed expectations

• Markets fully price total 75 bps Fed rate reduction by December

• 1.2700 (former resistance level) is now a GBP/USD support point, pre-1.2679

• Bailey, Pill, Greene, Taylor to speak about quarterly BoE MPR on Wednesday

GBPUSD

(Robert Howard is a Reuters market analyst. The views expressed are his ownb)