GBP/USD drops to near 1.3200 due to risk-off mood amid rising tensions in the Middle East
GBP/USD extends its losing streak for the third consecutive day, trading around 1.3200 during the Asian session on Thursday. The risk-sensitive GBP/USD pair receives downward pressure due to the safe-haven flows amid escalating Middle-East tensions.
The Israeli Broadcasting Authority (IBA) reported that Israel’s security cabinet has decided to issue a strong response to the recent Iranian attack. On Tuesday night, Iran launched over 200 ballistic missiles and drone strikes on Israel. Read more…
GBP/USD softens below 1.3300 amid renewed US Dollar demand
The GBP/USD pair extends its downside to around 1.3265 during the early Asian session on Thursday. The renewed demand for the US dollar (USD) amid the rising geopolitical tensions in the Middle East provides some support to the major pair. The US September ISM Services Purchasing Managers Index (PMI), the weekly Initial Jobless Claims, and the final S&P Global Services PMI will be in the spotlight on Thursday.
Iran fired more than 180 missiles at Israel on Tuesday, its biggest-ever direct attack on the country. Israel and the United States vowed retribution for the attack. A sign that conflict in the region is intensifying and the fear of wider war boosts the safe-haven flows, benefiting the Greenback against the Pound Sterling (GBP). Read more…
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