Markets wait for Iran response

Currency recap

The big news over the weekend was the US's attacks on Iran’s nuclear facilities. Oil prices jumped and equity futures were all pointing to a lower opening on risk aversion over the weekend but there has been very little reaction this morning. Oil prices are back lower, gold is lower and equity markets are trading higher – very odd considering the threat of a response from Iran remains relatively high.

Today's GBP rates

Key data points

What we think

UK PMI this morning came in marginally better than expected with the manufacturing sector numbers also surprising a little on the upside, giving GBP some minor support. Initial dollar gains following this weekend's events have tailed off and the greenback will likely need solid PMI numbers this afternoon if the gains are to continue.

Of course, we stand by to see what happens geopolitically and any implications this will have on the FX market today.

We specialise in currency guidance

Our team of currency experts are here to help you get more from your money when making international payments. We will work with you to understand your payment needs and offer specialised guidance on the best options available to you. Over the last 19 years we’ve helped over a million customers and last year alone processed over £12bn. We’re tried and trusted, and we’re ready to help you.

Have a great day.