GBP/USD Weekly Forecast: Pound Sterling appears vulnerable amid widening Middle East crisis
The Pound Sterling (GBP) hit the lowest level in three months against the US Dollar (USD) near 1.3250 and staged a modest rebound, but ended the week deep in the red.
It was all about turning to the safe-haven and the world’s reserve currency, the USD, this week as the United States-Israel attack on Iran set off a deeper escalation in the Middle East and rattled global markets. Read more…
GBP/USD trades flat despite soft US jobs data
The British Pound (GBP) struggles for direction against the US Dollar (USD) on Friday, with GBP/USD consolidating after a short-lived spike following weaker-than-expected US labor market data. At the time of writing, the pair is trading around 1.3362, on course for a third straight weekly decline.
Despite the disappointing data, the figures did little to weaken the USD, as investors continued to favor the Greenback as a safe-haven asset amid the ongoing conflict between the United States and Iran. Read more…