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Pound holds steady as reports suggest Iran could reopen the Strait of Hormuz
The currency hovered near $1.34 against the US dollar on Tuesday, while Brent crude prices fell under $100. Japanese agency Kyodo News reported Tehran is willing to unblock the vital waterway within a week if America scales down its military pressure. A steady return of oil shipments could help the Bank of England avoid raising interest rates later this year.
Reported by Reuters · How we write briefs