GBP/USD Recovers from Two-Month Low Ahead of BoE
The British pound bounced from its lowest level since April 7 during Asian trading on Thursday, supported by a weaker US dollar amid speculation over an Iran peace deal.
GBP/USD edged higher in Asian trading on Thursday, pulling away from the two-month low of 1.3260 reached the previous day. The pair’s recovery comes as the US dollar softened on reports of progress toward a potential peace agreement involving Iran, which could ease geopolitical tensions and reduce safe-haven demand for the greenback.
Traders now turn their attention to the Bank of England’s (BoE) upcoming monetary policy decision. Any hawkish signals from the central bank could provide further support for sterling, while a dovish tone might cap gains. Price action remains driven by contrasting policy expectations and geopolitical developments.
Source: FXStreet Forex News