Sterling stays flat amid Iran focus and political risks
The British pound remained stable against the dollar and euro as investors monitored potential peace deals in the Middle East. Markets are also weighing domestic political risks ahead of the Makerfield by-election on June 18 which could trigger a leadership challenge for Prime Minister Keir Starmer.
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GBP/USD rose 0.10% to $1.3468 on Tuesday as investors weighed Middle East peace prospects against domestic political risks. The pound remained flat against the euro at 86.46 pence following two days of gains in United Kingdom. Geopolitical stability in the Middle East could reduce safe-haven demand for the dollar, providing a tailwind for sterling.
