The currency pair climbs as Middle East tensions ease, reducing demand for the safe-haven USD ahead of key US employment data.
The GBP/USD pair advanced to 1.3560 in Asian trading on Friday, supported by optimism over a potential Iran truce. Reduced geopolitical risks in the Middle East weakened the US Dollar’s appeal as a safe-haven asset.
Prior to this move, the pair had traded in a tight range as investors awaited the US April nonfarm payrolls report. Market consensus expects the data to provide clues on the Federal Reserve’s next policy steps, with strong figures potentially reinforcing hawkish bets.
No immediate market reaction was specified beyond the modest gain in early trading.