Pound faces worst monthly drop against dollar since October
Sterling is set for its worst monthly loss against the dollar since October. Investors seek safety in the U.S. currency amid the ongoing Middle East conflict.
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The British Pound / US Dollar exchange rate fell for a fourth consecutive day on Friday, heading toward its weakest monthly performance against the United States dollar since October. The decline is driven by investor flight toward safe-haven assets amid fears of a global energy shock linked to the ongoing conflict in the Middle East. While the pound has dropped 1.5% in March, it remains the best-performing major currency against the dollar since the start of the hostilities.
