Pound heads for biggest weekly gain since mid-January
The pound is on track for a 1.7% weekly increase after a U.S.-Iran ceasefire agreement. Investors await weekend negotiations as energy supply concerns ease.
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The British pound retreated slightly on Friday but remained on track for its strongest weekly performance since January, buoyed by hopes for a diplomatic resolution to Middle Eastern tensions. The United Kingdom currency has benefited from a broader shift in sentiment as investors weigh the potential for a ceasefire. The GBP/USD exchange rate dipped 0.15% to $1.342, yet it maintained a 1.7% gain for the week, marking its best showing in three months.
