The GBP/USD pair trades 0.25% higher to near 1.3590 during the European trading session on Friday.
The Cable reflects strength as the Pound Sterling (GBP) outperforms its major currency peers, except antipodeans, amid a revived risk-on rally
As of writing, S&P 500 futures are 0.3% higher to near 7,360, exhibiting firm demand for riskier assets. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.16% lower to near 98.10. The DXY falls back after a recovery move on Thursday.
The appeal of risk-sensitive assets has revived as United States (US) President Donald Trump has confirmed that the ceasefire with Iran is intact despite the exchange of attacks near the Strait of Hormuz. Meanwhile, investors await the US Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT. Investors will closely monitor the US NFP data to get fresh cues on the Federal Reserve’s (Fed) monetary policy outlook.