Sterling declines as Middle East tensions boost US dollar
Sterling fell as Middle East tensions drove investors to safe havens. Rising oil prices and weak growth led markets to lower rate cut expectations for March.
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The British pound has resumed its decline as the intensifying conflict in the Middle East fuels a flight to safe-haven assets. With Brent Crude Oil prices rising for a fifth consecutive day, investors are moving away from the currencies of economies that rely heavily on energy imports.
