The British Pound (GBP) losses some ground versus the US Dollar (USD) on Monday as risk aversion keeps the Greenback bid, sponsored by the escalation of the Iran conflict. This triggered a sudden jump in oil prices, which are up 11%, retreating after gaining nearly 30% during Monday’s Asian session. At the time of writing, GBP/USD trades at 1.3366, down 0.28%.
Greenback appreciated on risk-off mood, rising crude prices
Most G8 FX currencies depreciated against the American currency, which, according to the US Dollar Index (DXY), posts gains of over 0.34%. The DXY, which measures the buck’s performance against six currencies, is at 99.20 after reaching a nearly three-month high of 99.69, a level last seen late in November of 2025.
The rise in Crude Oil prices, spurred by ships unable to pass through the Strait of Hormuz, triggered adjustments in Oil production amongst Gulf countries,…
