Safe haven demand for the Dollar spiked on fears of an Iranian ballistic missile attack on Israel.
The Dollar is bid at the start of the new month and final quarter of 2024, helped along by Federal Reserve Chair Jerome Powell's latest guidance on interest rates.
GBP/USD Correction Risks Rise: City Index
- Category: USD
Year-to-date, the GBP/USD is up about 5.3%. While the potential to extend these gains is there, the cable is now less than 70 pips away from testing a key long-term resistance zone between 1.3500 and 1.4000.
The Pound to Dollar exchange rate can continue to advance in the coming days according to our Week Ahead Model. Fedspeak and U.S. payrolls are the fundamental risks to the positive setup.