Global markets open against a backdrop of rising geopolitical risk, with Iran facing its most serious unrest in decades.

GBP/USD has broken below key support at 1.3400, with macro data from the US and UK likely to determine whether the pair hits 1.3185 or rebounds.

Indian share markets are trading lower, with the Sensex trading 472 points lower, and the Nifty is trading 124 points lower.

The dollar sold off across the board as the Fed received DoJ subpoenas, reigniting both independence risks and a brief return of ‘sell-America’ trade.