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fxJul 24, 2026, 4:09 PM

Pound rises as oil slump weighs on dollar, weekly loss in sight

The pound gained about 0.20% on Friday as falling oil prices pressured the dollar, but GBP/USD remains on track for a weekly decline.

GBPUSD

Sterling advanced roughly 0.20% during Friday's session, helped by a tumble in oil prices that softened the US dollar. The move came despite an escalation in US–Iran tensions, which market participants largely overlooked.

Still, the day’s gains were not enough to erase earlier losses. GBP/USD is poised to close the week in negative territory, extending a run of weakness.

Source: FXStreet Forex News