British Pound Rebounds Above 1.3350 Despite Middle East Tensions
GBP/USD recovered to near 1.3385 during Asian trading on Thursday, but gains may be capped by cooler UK inflation data and rising Middle East tensions.
GBPUSD
The British pound edged higher against the US dollar, trading around 1.3385 in early Asian hours on Thursday. The pair bounced from recent lows, briefly pushing above the 1.3350 level.
However, the upside potential appears limited. Recent UK inflation figures came in below expectations, dampening rate hike bets, while escalating conflict in the Middle East continues to fuel risk aversion. These factors may keep GBP/USD under pressure in the near term.
Source: FXStreet Forex News