The recent escalation in hostilities between Israel and Iran has signalled a shift from earlier, more calibrated exchanges to a broader and more sustained confrontation. Analysts at Capital Economics said this phase of the conflict appears far more intense than previous tit-for-tat strikes in April and October 2024,

The GBP/USD surged during the North American session, rising back above the 1.36 figure as hostilities within the Israel-Iran conflict escalated over the weekend and continued into the new week. At the time of writing, the pair trades at 1.3600, gaining 0.27%.

There are three major ways that life for Brits could be impacted by the ongoing conflict between Israel and Iran, experts have warned

Israel and Iran bombarded each other for a third day, with international concern growing that the conflict will spread across one of the world’s key oil-producing regions.

Oil prices edged higher in early trade, adding to last week’s surge as Israel and Iran exchanged strikes for a fourth day.