GBP/USD Slips Below 1.3500 as US Strikes Iran, Risk Aversion Mounts
The British pound weakened below 1.3500 against the US dollar during Asian trading on Friday, pressured by heightened geopolitical tensions after the US launched a new wave of strikes against Iran.
The GBP/USD pair traded at 1.3470 in the Asian session, down from earlier levels above 1.3500. The decline comes as the US launched a fresh wave of strikes against Iran, triggering a broad risk-off shift in financial markets.
Geopolitical jitters in the Middle East have reduced demand for the British pound, which is sensitive to global risk appetite. The move also reflects safe-haven flows into the US dollar. Investors are now awaiting the preliminary University of Michigan Consumer Sentiment Index for July, which could provide further direction for the pair.
Source: FXStreet Forex News