{
  "id": 9164305,
  "title": "British Pound sinks as USD shrugs off Hormuz reopening hopes",
  "url": "https://urgent.news/2026/09/22/british-pound-sinks-as-usd-shrugs-off-hormuz-reopening-hopes",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T16:39:12.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-sinks-as-usd-shrugs-off-hormuz-reopening-hopes-202609221639"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) experienced a decline of more than 0.17% against the US Dollar (USD) on Tuesday due to reports that Iran planned to reopen the Strait of Hormuz if the US adheres to certain conditions. At the time of publication, the GBP/USD rate stood at 1.3343, having peaked at 1.3387. Optimistic sentiment was evident following a Kyodo report indicating that Iran would open the Strait of Hormuz in seven days if the US lifted its blockade and stopped military operations. The US Dollar's strength, spurred by expectations of the Federal Reserve (Fed) raising rates multiple times before the year's end, continues to support the Greenback. The US Dollar Index (DXY), tracking the performance of the US currency against six others, rose 0.27% to 100.69, marking a two-month high. Economic indicators, such as the ADP Employment Change 4-week average, showed growth from 16.75K to 20K, suggesting a robust labor market. Additionally, several Fed speakers conveyed their support for a rate hike last week due to inflation potentially becoming entrenched above 2%. In the United Kingdom, Public Sector Net Borrowing surpassed expectations in August, reaching £18.26 billion, which elevated the UK deficit to £77.3 billion in the first five months of the fiscal year, surpassing the Office for Budget Responsibility's forecast by £8.1 billion. While the Bank of England (BoE) rate hike anticipation at the upcoming November meeting stands at 65% via Prime Terminal, this may pave the way for further downside if the interest rate differential between the two nations favors the US. The GBP/USD pair remained under pressure due to the broader US Dollar strength, driven by a potential Fed rate hike. The daily chart showed GBP/USD trading at 1.3324, displaying a bearish trend as it stayed below clustered simple moving averages (SMA) around 1.3481 and several broken ascending trend-line levels. The Relative Strength Index (14) near 31 indicated the sell-off was entering oversold territory, rather than signaling a sustainable base. On the upside, initial resistance appeared at the downtrend line break near 1.3335, followed by the secondary descending barrier at 1.3449. Above, the SMA cluster around 1.3481 aligned with a former rising support trend line now acting as resistance at 1.3504, with a more distant cap at the higher broken support line near 1.3713. On the downside, momentum-based support was primarily reliant on the RSI hovering near oversold readings, suggesting that while selling pressure was dominant, the pair might pause rather than reverse decisively unless overhead technical levels were reasserted.",
  "summary": "The Pound Sterling (GBP) dives over 0.17% against the US Dollar (USD) on Tuesday amid newswire reports that Tehran intends to reopen the Strait of Hormuz if the United States meets certain conditions. At the time of writing, GBP/USD trades at 1.3343 after peaking at 1.3387.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "The British Pound slips again as bets on an October Fed hike build",
        "url": "https://urgent.news/2026/09/21/the-british-pound-slips-again-as-bets-on-an-october-fed-hike-build",
        "published": "2026-09-21T22:42:45.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}