Pound Steadies as Weak US Data Offsets Iran Risk
Sterling held steady on Tuesday as soft US housing and industrial data offset rising Middle East tensions, leaving GBP/USD little changed.
GBPUSD
The pound held steady on Tuesday despite rising geopolitical tensions in the Middle East. Sterling found support from softer US data, which helped counter pressure from risk aversion.
US housing data missed estimates and industrial production decelerated, easing the dollar side of GBP/USD and leaving the pair little changed.
The report did not provide a specific traded level, but the tone pointed to a balanced near-term backdrop for cable as weak US figures offset Iran-related risk.
Source: FXStreet Forex News