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British pound falls against the dollar as France fiscal risk boosts USD

GBP/USD was last around 1.3218, while the euro weakened as France fiscal concerns widened spreads between French OATs and German Bunds.

Reported · Written up by our desk · Major Pairs

The British pound slid more than 0.19% against the US dollar as the Greenback gained traction at the start of the week, with GBP/USD last trading around 1.3218, according to FXStreet.

FXStreet linked the move to an improved USD backdrop, citing a dip in US services activity along with elevated Treasury yields. Data showed September ISM Services PMI easing from 55.4 to 54.9, while input costs rose, with the prices paid component increasing to 74.0 from 72.6.

The outlet also pointed to euro weakness amid a fiscal crisis in France, which it said widened spreads between French OATs and German Bunds. FXStreet noted that tensions in the Middle East remained elevated, contributing to lower oil prices, with WTI down nearly 1% to about $90.35.

FXStreet added that the USD move was happening alongside upbeat sentiment in US equities, even as the dollar received support from the broader rate and risk backdrop.

Latest closeWTI crude $91.26 ▼1.7%|GBP/USD 1.324 ▼0.2%

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