General · 27 May 2026
Sterling Falls Against Euro Over Iran Fears
Photo by Ali Bensoula on Pexels
Higher household energy costs and market caution kept the pound under pressure as traders watched events in the Middle East. Sterling slipped for a second day against the euro on Wednesday after Iran criticised US strikes near the Strait of Hormuz. Ofgem raised Britain’s energy price cap by 13%, while grocery inflation slowed to 3.1% in May, its lowest level since December 2024.
Reported by Reuters · How we write briefs