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2026.04.1010:46:51UTC+00Sterling Rises to Over One-Month High

The British pound climbed above $1.34, its highest level since late February, and was on track for a weekly gain of nearly 1.5% against the dollar. The move was driven by optimism over a potential Russia-Ukraine peace agreement and a cautious tone ahead of US-Iran ceasefire talks scheduled for this weekend. Ukraine’s lead negotiator signaled progress in discussions with Moscow, bolstering hopes for a swift resolution to Europe’s most devastating conflict since World War II. At the same time, US-Iran negotiations are set to begin on Saturday, although tensions remain elevated as Tehran continues its blockade of the Strait of Hormuz, described as the most severe energy supply disruption in history. President Trump struck a balance between optimism and caution, voicing concern over Iran’s newly imposed shipping fees. On the monetary policy front, surging oil prices have intensified inflation concerns, prompting markets to anticipate a more hawkish Bank of England, with traders now pricing in at least one BoE rate hike by the end of 2026.

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