Geopolitical risks and expectations of a US rate hike weigh on the British Pound, pushing GBP/USD to session lows.
The GBP/USD pair extended losses to 1.3340 in European trading on Monday, pressured by escalating Middle East tensions and rising bets on a US interest rate increase. The US Dollar found support as investors sought safe-haven assets amid the geopolitical uncertainty.
Prior to the session, the pair had traded near 1.3360, with market participants closely monitoring Federal Reserve signals for potential policy shifts. The latest decline reflects a broader risk-off sentiment, though losses remain modest as traders await further economic data.
No immediate market reaction was reported beyond the intraday dip, with focus shifting to upcoming US inflation figures later in the week.