Markets nervously monitor Middle East
The US dollar and other safe-haven assets began Monday with a powerful surge as the Iran conflict prompted investors to shun riskier positions.
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Daily Currency Note
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Currency rates fluctuate by the second and can change by up to 10% in the space of a year. On a typical overseas money transfer, that's the difference between completing on budget and needing pay thousands more. Our daily notes keep you informed on every move in GBP, EUR and USD, so you can make confident decisions about when to lock in your rate.
Today's move
Tuesday, 3 March 2026
GBP / EUR
▼ 0.12%
1.1707
A transfer of €300,000 would cost
£300 more
today than yesterday.
GBP / USD
▼ 0.16%
1.3353
A transfer of $350,000 would cost
£431 more
today than yesterday.
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Sterling drops to 10-week low after Iran strikes
The pound has weakened to its lowest point against the US dollar and euro since mid-December following the US and Israeli strikes on Iran. Retaliatory strikes from Iran have now stretched as far as Dubai and British interests…
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Iran strikes jolt markets
Markets go into Monday with one word on their mind: risk. The US and Israel’s strikes on Iran began early on Saturday, but hints had already hit the markets on Friday with a negative impact on sterling. The…
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GBP: Sterling starts the week on the back foot
Sterling ended Sunday night softer against both the dollar and the euro, reflecting that early risk-off tone. When markets get nervous, the pound is an effective barometer of sentiment – fine when confidence is high but weakening when…
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EUR: Euro squeezed between geopolitics and dollar’s pull
The euro has been pulled in two directions: a touch firmer against sterling, but softer against the dollar. That’s a familiar pattern when risk aversion is the dominant theme – the dollar takes the safe-haven oxygen, while Europe’s…
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USD: Dollar leans into safe-haven demand
The dollar has started the week with investors leaning on it as the “default” shelter when headlines turn ugly. That’s helped it keep the upper hand against both sterling and the euro into Monday’s open. The wrinkle is…
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USD: Dollar on the march
It was a sea of green for the greenback yesterday, gaining close to 1% on the pound and a solid wedge against the euro too. As the Fed looks for signs on inflation, they will be taking an…
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EUR: Stable euro heads into heavy data week
We are getting a lot of European economic data out this morning, and on Monday that continues with GDP and PMI in some European countries. However, with the ECB looking unlikely to move anywhere on interest rates for…
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