The Pound Sterling advances by some 0.20% on Friday as Oil prices tumble, weighing on the US Dollar, while the US-Iran conflict signals a further escalation, which market participants ignored. Despite registering daily gains, the GBP/USD is poised to finish the week with losses of nearly 0.70%.
USD/CHF continues its winning streak for the fifth successive day, trading around 0.8170 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) pares its daily losses amid rising safe-haven demand due to escalating conflicts in the Middle East.
The GBP/USD pair recovers some lost ground to near 1.3325, snapping the five-day losing streak during the Asian trading hours on Friday. However, the potential upside might be limited amid heightened military tensions in the Middle East.