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fxJun 8, 2026, 5:21 AM

GBP/USD Holds Below 1.3350 Amid Middle East Turmoil

The British Pound traded with mild losses around 1.3340 during European hours on Monday, pressured by ongoing Middle East tensions and growing expectations of a US rate hike that boosted the dollar.

GBPUSD

The GBP/USD pair posted modest losses in early European trading on Monday, hovering near 1.3340. The decline was attributed to persistent geopolitical risks in the Middle East, which bolstered demand for safe-haven assets, alongside renewed bets that the Federal Reserve may raise interest rates further.

Despite the downward pressure, the pound managed to hold above the 1.3300 level, with traders eyeing upcoming economic data from both the UK and US for directional cues. The market remains cautious as investors assess the potential impact of higher US rates on the dollar's trajectory.

Source: FXStreet Forex News