Pound Slips as Oil Prices Fall Amid PMI Weakness

The British pound has weakened to around $1.33, its lowest level since late July, as investors weigh Middle East developments and weaker-than-expected UK PMI data.

The US dollar remains supported by expectations of further Federal Reserve tightening, despite softer oil prices.

Brent crude is trading below $100 a barrel amid Saudi Arabia's plans to restart a key pipeline and signs of progress in US-Iran talks.

The UK's private sector activity continued to expand in September, although growth slowed and fell slightly short of expectations, according to preliminary PMI data.