Sterling Falters Amid US-Iran Sanctions Concerns

Sterling declined slightly on Monday after reaching its highest level in over six months last week. The currency eased to $1.3633 by 0956 GMT, down nearly 0.1% from its peak of $1.3675.

The move comes as markets assess the potential impact of US sanctions on Iran and its trading partners. This has added caution to investors' minds, tempering sterling's recent gains.

Despite this, traders still expect the Bank of England to raise interest rates by at least 25 basis points by December, according to LSEG data.