Sterling holds steady amid Iran talks and oil moves
The British pound remained steady on Monday as investors monitored U.S.-Iran peace talks and oil price volatility. Bank of England Governor Andrew Bailey signaled a cautious approach to rate hikes despite energy-driven inflation.
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The United Kingdom pound remained flat at $1.3460 against the dollar as investors monitored stalled peace negotiations. Sterling stayed within a narrow range while oil prices jumped following fresh attacks in the Persian Gulf. Britain's heavy reliance on energy imports leaves the currency vulnerable to persistent fuel costs that remain 30% higher than before the war.
