CHF/GBP Exchange rate

Following the US Dollar's U-turn, EUR/USD surged to daily highs of 1.1580 on Monday.  Meanwhile, the Greenback remains under pressure in response to the Fed's Bowman’s dovish remarks, although geopolitical fears seem to restrict the fall somehow.

As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.

Gold maintains its bullish bias on Monday, trading at shouting distance from the key $3,400 mark per troy ounce on the back of increasing geopolitical tensions after Iran announced a missile attack to the US military base in the UAE.

Geopolitical tensions in the Middle East caused a liquidation havoc of over $1 billion in the cryptocurrency market over the weekend, following US President Donald Trump’s direct involvement in the conflict between Israel and Iran.

After bottoming out in multi-week lows near 1.3370, GBP/USD now picks up pace and gains around a cent to hit new daily peaks around 1.3480 in response to fresh selling pressure hitting the Greenback. The knee-jerk in the US Dollar comes despite steady fears on the Iran-Israel-US front and firm results from preliminary US PMIs for the month of June. On the UK docket, all the attention remains on upcoming flash Manufacturing and Services PMIs.