Sterling Falls as Middle East Conflict Hits Risk Sentiment -- Market Talk
Dow Jones03-02
0958 GMT - Sterling falls to two-and-a-half-month low against the dollar after the U.S. and Israel traded military strikes with Iran, denting risk appetite. Sterling tends to sell off quite heavily when risk aversion rises, Convera's George Vessey says in a note. Expectations for further interest-rate cuts by the Bank of England after recent soft U.K. data also weigh on sterling, he says. Moreover, sterling is growing vulnerable to political uncertainty following the ruling U.K. Labour Party's recent defect in a special district election, he says. Sterling falls to a low of $1.3312. The euro rises 0.2% to 0.8778 pounds. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
March 02, 2026 04:58 ET (09:58 GMT)
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