British Pound Rises as US-Iran Accord Sends Oil Plunging
The Pound Sterling advances 0.31% on Monday as risk appetite improves following a US-Iran agreement to be signed on June 19 in Geneva, causing oil prices to drop.
GBPUSD
The British Pound strengthened 0.31% against the dollar on Monday amid a risk-on mood triggered by the US-Iran accord. The agreement, set to be signed on June 19 in Geneva, is expected to ease geopolitical tensions and lower crude oil prices.
Oil futures tumbled on the news, further supporting currencies that benefit from lower energy costs. The pound’s gains come as investors shift away from safe havens and into higher-yielding assets.
Source: FXStreet Forex News