The British pound gains 0.54% as progress in US-Iran talks lifts risk sentiment and pressures the US dollar.
The British pound rose 0.54% against the US dollar on Monday, approaching 1.3500 as optimism over a potential US-Iran agreement improved market sentiment. The pair traded near its highest level since May 14, reflecting broad dollar weakness.
The US Dollar Index (DXY) retreated toward 99.00 after hitting a one-month high near 99.50 last week. Reports suggest a 60-day ceasefire extension, reopening of the Strait of Hormuz, and removal of US naval blockades are under discussion, though negotiations remain slow.
US President Donald Trump described talks as progressing in an orderly manner, while Iran acknowledged partial progress but cautioned against expecting an imminent deal. Markets remain cautiously optimistic amid geopolitical developments.