Forex
Sterling Holds Firm Amid US-Iran Talks and Yen Intervention Jitters
The pound has remained relatively stable against both the dollar and euro as markets await further developments on US-Iran peace talks and monitor potential intervention in the Japanese yen.
On Tuesday, sterling was little changed at $1.344 after rising sharply at the end of last week due to the dollar's slide following official intervention to prop up the yen and the US Federal Reserve holding interest rates steady.
The US-Iran negotiations have had a mixed impact on oil prices, with Brent crude initially falling 3% to $86.10 a barrel after President Trump announced talks were under way, but rebounding slightly as Iran denied any negotiations were being held or planned.