The pound remains stable above 1.36, with continued support from expectations of Bank of England interest rate hikes.

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智通财经2026/08/26 08:51

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The British pound is trading above 1.36 against the US dollar, near the strongest level since mid-February. The market continues to price in a rate hike by the Bank of England within the year, and although oil prices have retreated, concerns remain over sticky inflation and rising government debt.
Brent crude oil has fallen for the third consecutive day. Iran and Oman are holding negotiations over reopening the Strait of Hormuz, and Oman's foreign ministry stated that a temporary corridor may be announced soon. There are also market rumors that the US and Iran may reach a new ceasefire agreement in the coming days. The currency market is pricing in at least a 25-basis-point rate hike by the Bank of England before year-end. July inflation accelerated to 2.9%, the highest since March, and it is expected to rise further by year-end. The market is watching the first budget proposal from the new government in October.

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The pound remains stable above 1.36, with continued support from expectations of Bank of England interest rate hikes.

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