Sterling Holds Ground as UK Inflation Cools, Oil Jumps on Iran Tensions

The British pound held its ground during the North American session, supported by a cooler-than-expected UK inflation print. The data eased immediate pressure on the Bank of England to tighten monetary policy aggressively.

At the same time, ongoing attacks between the United States and Iran in the Middle East kept oil prices elevated, adding a layer of geopolitical uncertainty to currency markets. The GBP/USD pair traded around recent levels as traders weighed the mixed signals.