Sterling Holds Steady Amid Iran Talks and Yen Intervention Fears

The pound sterling held steady on Tuesday as markets waited for further details on possible U.S.-Iran peace talks and traders were on alert for potential intervention in the Japanese yen.

According to market sources, the U.S. Treasury bought yen with euros instead of dollars, a highly unusual move likely aimed at helping Japan without encouraging a view that Washington wants a softer dollar.

The pound was little changed against the euro, and oil prices fell this week after U.S. President Donald Trump said on Monday that talks with Iran were underway, reducing potential inflationary pressures for energy-importing countries like Britain.