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GBP/USD slips near 1.3460 as US-Iran deal talks add uncertainty
The pair drifts lower amid conflicting US and Iranian comments on a potential deal, ahead of US Initial Jobless Claims and looming US labor-market data.
GBP/USD slid to around 1.3460 in early European trading, with FXStreet attributing the move to market uncertainty tied to conflicting rhetoric from US and Iranian officials over a possible deal.
The outlet notes that US President Donald Trump said he had productive talks with Iran, while US Vice President JD Vance said negotiations would be messy and take time. On the Iranian side, Deputy Foreign Minister Kazem Gharibabadi said Iran and Oman have continued discussions on reopening the Strait of Hormuz for more than three weeks, and an Iranian official denied Tehran is currently talking with Washington over the waterway.
FXStreet also points to US data as a near-term driver for the dollar. It highlights that ADP reported US private sector employment rose 44K in July versus 98K in June, below expectations, and it says US Initial Jobless Claims is due later Thursday.
Looking ahead, FXStreet adds that the limited UK release calendar makes upcoming UK growth data, including preliminary Q2 GDP on August 13, a key catalyst for the pound, while a weaker US labor backdrop could shift expectations around Fed rate hikes and weigh on the USD.
Latest closeGBP/USD 1.347 ▲0.3%