Sterling rose more than 0.50% against the US Dollar on Monday, lifting GBP/USD back above 1.3400 as demand for the greenback ebbed. The move followed comments from US President Donald Trump that downplayed the risk of an escalation in the US-Iran conflict, easing near-term geopolitical tension.
Focus Shifts to US Macroeconomic Data
Market attention is now shifting to US macro data, with traders positioning ahead of the latest US inflation report. The release follows Friday’s Nonfarm Payrolls report and is set to shape expectations for the next phase of US interest-rate pricing, with GBP/USD trading on the front foot into the CPI print.