Shafaqna English– After enjoying a steady climb over the past four weeks, the British pound experienced a modest decline against the US dollar on Monday(24 Aug 2026).
The currency’s retreat came as market participants turned their attention to the impending announcement of fresh US sanctions targeting Iran and its commercial allies, a development that injected caution into currency markets and prompted profit-taking after a prolonged upward move.
By 09:56 GMT, the pound had slipped by approximately 0.1%, trading at $1.3633, following Friday’s peak of $1.3675, which had marked its strongest level against the dollar in over half a year.
Meanwhile, the currency remained rangebound against the euro, holding steady at 85.57 pence per euro as investors awaited further clarity on US foreign policy developments.
Source: Reuters