The British pound holds near 1.3640 against the dollar amid rising geopolitical tensions and upcoming US Treasury remarks on Iran sanctions.
The British pound remains stable against the US dollar at approximately 1.3640, as traders monitor developments surrounding US sanctions on Iran. The GBP/USD pair shows little change, reflecting a balance between geopolitical risks and market caution ahead of key speeches by US officials.
The US Dollar Index (DXY) rose 0.15% to 98.98, limiting the pound’s gains. US Treasury Secretary Scott Bessent warned Iran of severe economic consequences in a Financial Times article, escalating tensions. Iran responded by threatening to halt oil exports if sanctions persist. Markets await Bessent’s press conference at 1700 GMT for further details.
This week’s US economic calendar includes housing data, consumer confidence, GDP figures, and the Fed’s preferred inflation gauge, Core PCE. Fed Chair Kevin Warsh’s speech at Jackson Hole on Friday is not expected to provide new policy guidance.