Pound steadies as traders monitor Iran peace talks
Sterling remained little changed at $1.342 on Thursday as investors monitored fragile ceasefire developments in the Middle East. The currency faces additional pressure from domestic political uncertainty and shifting expectations regarding Bank of England interest rate hikes for the remainder of the year.
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GBP/USD held steady at $1.342 on Thursday morning as investors weighed unstable Middle East peace prospects against domestic political friction. Sterling has declined 0.5% against the dollar since February 27 but gained 1.5% against the euro during the same period. The currency's path now depends on whether cooling geopolitical tensions can offset internal pressure on the British government.
