Forex
GBP/USD Climbs as USD Fades Amid Hormuz Tensions
The Pound Sterling gained ground against the US Dollar on Monday as the US-Iran conflict escalated around the Strait of Hormuz. The GBP/USD climbed by over 0.23% in thin trading conditions, while the US markets remained closed for Labour Day weekend.
The pair traded at 1.3541 as the US Dollar struggled to attract bids despite strong Nonfarm Payrolls figures for August posted by the United States Bureau of Labor Statistics (BLS).
UK Chancellor's upcoming speech is also being eyed, which may have some impact on the Pound Sterling.