GBP/USD Bounces on Middle East Tensions, Upside Capped

The British Pound (GBP) strengthened against the US Dollar in Friday's Asian trading session, rebounding to around 1.3325 after a five-day losing streak.

This recovery was driven by heightened tensions in the Middle East and continued US strikes on Iranian targets, which supported safe-haven demand for the US Dollar.

The market anticipated no change to the Bank of England's (BoE) 3.75% Bank Rate next week, with UK June Retail Sales expected to fall 0.3% month-over-month (MoM).