The British Pound fell below the 1.3500 level against the US Dollar, trading around 1.3470 during Asian hours on Friday, according to FX Street. This movement was influenced by renewed US strikes against Iran, which heightened geopolitical tensions in the Middle East.
FX Street reported that the escalating conflict triggered a risk-off sentiment in global markets, putting pressure on the British Pound. Investors appeared cautious ahead of the preliminary July reading of the Michigan Consumer Sentiment Index, scheduled for release later on Friday.
For Japanese market participants, this cautious mood in FX markets underscores the ongoing sensitivity to geopolitical risks and their potential impact on currency volatility and cross-border capital flows.