Sterling Slides Amid Middle East Tensions and Upcoming US Payrolls

The British pound is down 0.1% against both the euro and US dollar due to concerns over Middle East tensions and the upcoming US payrolls data.

Investors are staying cautious as diplomatic efforts to end the Iran war and reopen the Strait of Hormuz continue, alongside renewed tensions in the region.

Brent crude futures have eased to $82.16 a barrel as markets weigh potential coordinated attacks on Saudi Arabia by Houthis and Iran-backed militias.

The Bank of England left interest rates unchanged last week, saying it needs more time to assess how much the war in the Middle East may lift inflation.