Market News
Sterling rises versus dollar as market sentiment brightens
Key takeaways
- Currency Movement: The pound rose 0.5% to $1.3421, recovering from Friday's 0.7% drop, as AI stock concerns eased and demand for safe-haven assets like the dollar cooled.
- Oil Prices: Brent crude fell 3.2% to $95.16 a barrel after reduced fears of renewed strikes on Iran, though supply risks near the Strait of Hormuz remain.
- UK Economic Outlook: Third-quarter GDP expected at 0.7% growth, supported by AI spending, defence investment, and consumer activity, despite ongoing energy price pressures.
