The British pound held steady against the U.S. dollar during Friday trading but is on track to record its biggest weekly gain against the greenback in nearly four months.
The pound was flat at $1.3737 as of 2:11 p.m. Mecca time, remaining close to its highest level since late 2021, at $1.3770, which was reached during Thursday’s session.
Sterling is heading for a 2.2% weekly gain—its largest since early March—as the dollar's temporary strength, driven by tensions between Israel and Iran, fades.
Analysts at Rabobank said in a note cited by Reuters that the pound's gains primarily reflect the dollar's weakness this year, in addition to the strength of the euro, which has helped lift the pound within a limited range
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