Pound Surge: Mid-1.3300s Break Amid Iran Diplomacy Hopes
The British Pound has strengthened beyond mid-1.3300s against the weak US Dollar amid fresh hopes for Iran diplomacy.
US-Iran conflict developments and receding Federal Reserve rate hike bets have undermined the safe-haven dollar, leading to a broadly weaker US currency.
Traders are cautious ahead of the FOMC meeting this week and may refrain from placing aggressive bets until then.