The sterling pound runs sharply against the US dollar in the middle of the Iran-Israel conflict
The pound sterling (GBP) works below its main peers on Fridayexcept for antipodal currencies, since the feeling of the market becomes adverse to risk of the increase in geopolitical tensions in the Middle East.
Israel has announced a war against Iran after attacking dozens of objectives in the northeast region of Tehran, including nuclear facilities and military bases. Israeli Prime Minister Benjamin Netanyahu has clarified that his army has begun the “Operation León Ascendent” to stop Iran to build nuclear eyebrows, citing that the operation aims to “reverse the Iranian threat to Israel’s own survival.” Read more…
GBP/USD forecast: The sterling pound loses bullish impulse due to the increase in geopolitical tensions
The GBP/USD falls abruptly and quotes below 1,3550 in the European session on Friday After registering its highest daily closure since February 2022 on Thursday. The Risk Adverse Market environment could make it difficult for the PAR to recover its traction for the weekend.
The generalized sales pressure surrounds the US dollar (USD) allowed the GBP/USD to acquire bullish impulse on Thursday. After suffering great losses against its main rivals due to numbers of the weakest consumer price index (IPC) than expected on Wednesday, the USD continued to weaken on Thursday, since the data published by the Labor Department showed that there were 248 initial unemployment applications in the week that ended on June 7, compared to the market forecast of 240,000. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
