FX.co ★ Sterling Stalls Amid Iran Deadline and Energy Surge

The British pound was largely unchanged against the dollar, trading just above $1.32 as investors adopted a cautious wait-and-see stance ahead of President Trump’s deadline on Iran. Trump escalated his rhetoric, demanding that Iran reopen the Strait of Hormuz by today or face what he called "devastating" US strikes, potentially targeting bridges and power plants, even at the risk of violating the Geneva Conventions. At the same time, Iran’s ongoing blockade of LNG tankers has deepened global fuel shortages, driving energy prices higher and strengthening expectations of tighter monetary policy. Markets now firmly anticipate two Bank of England interest rate hikes this year.