Pound rises amid Middle East crisis

Monday, 06. January 2020 18:08

The British pound gained against major currencies on Monday as the tensions in the Middle East continued following Iranian military leader Qassem Soleimani's execution done by the United States forces. Meanwhile, the Iraqi parliament voted to expel the US troops from the country while the US President Donald Trump warned that Washington won't pull out soldiers unless Baghdad pays for the airbase which cost "billions of dollars to build."

On the data field, business activity within the United Kingdom's service sector increased in December, according to the IHS Markit.

Cable surged 0.72% at 6:04 pm CET to go for $1.31678 while the euro traded 0.49% lower against the pound at the same time, changing hands for 0.84960.

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Breaking the News / GA