British Pound Climbs as Hormuz Talks Stall, US CPI Awaited

The British pound gained ground against the U.S. dollar on Tuesday as investors monitored geopolitical risks and positioned ahead of a key U.S. inflation report.

GBP/USD traded at 1.3520, up 0.20% on the day, after rebounding from its session lows. The move came as talks over the Strait of Hormuz were said to have stalled, raising concerns about global energy supplies.

Markets now turn to the upcoming U.S. Consumer Price Index release, which could shape Federal Reserve policy expectations.