Pound Stabilizes Amid Dollar Weakness

The British pound has stabilized at around $1.35 after a recent selloff, but it remains under pressure from various economic concerns.

The dollar's weakness is largely due to the yen's sharp rally, which has been driven by rising expectations of a Bank of Japan rate hike and the possibility of official intervention.

This has led to broad-based dollar weakness, with Brent crude also retreating from six-week highs after US President Donald Trump said the renewed US military campaign in Iran would not last long.