The British pound steadies against the dollar amid broader USD decline despite rising oil prices and Middle East supply risks.
The GBP/USD pair trades at 1.3387, up marginally in European trading as the US dollar weakens. The move comes despite a surge in oil prices driven by escalating Middle East energy supply concerns, which typically support the dollar.
Earlier, the pair struggled to breach its 20-day exponential moving average, reflecting persistent resistance. The USD’s decline follows mixed US economic data, though geopolitical tensions continue to influence market sentiment.
No immediate market reaction was reported, with traders awaiting further cues on monetary policy and energy market developments.