The GBP/USD pair remains stable near 1.3400 during the North American session as the Middle East conflict enters its twelfth day of hostilities. Despite rising US inflation, which typically supports the Dollar, the Pound has shown resilience. The market is closely watching how geopolitical tensions in the Middle East, which have disrupted oil markets, interact with strong US economic data. Traders are balancing risks between energy price volatility and the Federal Reserve’s potential tightening cycle. The lack of significant movement in GBP/USD highlights the market’s uncertainty about the Fed’s next steps and the sustainability of the UK’s economic recovery amid global instability. Investors should monitor OPEC+ policy shifts and upcoming UK employment data for potential catalysts.
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