Sterling holds gains as Middle East ceasefire remains fragile
Sterling edged higher on Thursday as investors monitored a fragile ceasefire between the U.S. and Iran. Tensions in Lebanon and energy disruptions limited gains.
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The British pound edged slightly higher against the dollar on Thursday, maintaining some of the momentum gained from a tentative ceasefire agreement between the United States and Iran. However, the currency struggled to make further headway as the stability of the deal remained in question.
The GBP/USD pair was last trading up 0.1% at $1.3407. While this represents a significant recovery from levels below $1.33 prior to the ceasefire announcement, it remains below Wednesday's peak of $1.348. This retreat reflects growing caution among traders regarding the longevity of the truce.
