Pound Sterling moves little as uncertainty prevails over US-Iran peace talks
GBP/USD remains flat after two days of losses, hovering around 1.3360 during the Asian trading hours on Thursday. The pair remains steady as the US Dollar (USD) holds firm, with traders closely tracking developments in the Middle East amid persistent uncertainty over efforts to end the Iran war.
The White House stated that talks are ongoing, with the Trump administration reportedly sending a 15-point proposal to Iran via Pakistan to resolve the conflict. Senior Iranian officials are reviewing the US proposal but have signaled no willingness to engage in talks with Washington. However, Tehran indicated it would reject a US ceasefire offer, instead putting forward a five-point plan that includes sovereign control over the Strait of Hormuz. Read more…
GBP/USD slips as risk aversion, sticky UK inflation lift US Dollar
The Pound Sterling (GBP) reverses course on Wednesday as the Greenback edges higher on the day, as risk appetite deteriorates following news reports that Iran’s nuclear Bushehr power plant was hit. Also, inflation readings in the UK pushed GBP/USD lower, with the pair losing 0.30% and trading near 1.3370 at the time of writing.
Hostilities in the Middle East conflict extended with Israel and Iran exchanging blows, while the US adopts a diplomatic stance, eyeing the beginning of peace talks in Islamabad, Pakistan. Iran’s rejected the US proposal, adding that five conditions must be fulfilled to end the war, which included halt to aggression by the enemy, the establishment of concrete mechanisms to ensure that the war is not reimposed on Iran, guarantedd and clearly defined payment of war damages and reparations, the conclusion of the war across all the fronts, and Iran’s exercises of sovereignty over the Strait of Hormuz. Read more…
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