Sterling pauses after rally as US weighs Iran sanctions
The British pound eased from a four-week rally against the dollar on Monday. Investors braced for potential new U.S. sanctions on Iran and its trading partners. Meanwhile markets weighed upcoming economic data and UK fiscal policy.
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GBP/USD slipped nearly 0.1% to $1.3633 on Monday morning, pausing after a four-week rally as investors braced for impending sanctions. The pullback follows a six-month high of $1.3675 reached on Friday. Despite the dip, the currency remains among the strongest performers in the G7 this year.
