GBP Rises Amid Oil Price Decline, US-Iran Tensions

The British Pound (GBP) rose by 0.20% on Friday as oil prices plummeted, weighing on the US Dollar. This development comes amid increased tensions between the US and Iran, which had previously sparked a surge in oil prices.

Risk appetite has improved due to Pakistan's efforts to facilitate talks between the two countries. However, some US officials have expressed concerns about the escalating situation.

The latest data from S&P Global shows that manufacturing activity is easing in the US, with the Manufacturing PMI index falling from 53.9 to 53.8. In contrast, the Services PMI improved from 51.2 to 53.6.