GBP/USD is up 0.50% intraday at 1.3407.

Brazil's finance minister said the government is seeking measures to offset the impact of rising fuel inflation and that war-related effects persist.

Iran’s nuclear program remains the central friction in US‑Iran talks. Tehran is believed to hold about 440 kg of uranium enriched to 60% — well above civilian needs (3–5%) — and enrichment from 60% to weapons‑grade 90% would take markedly less time. Western governments say Iran is positioning for weapons capability despite Iranian civilian claims. Naysan Rafati, senior Iran analyst at the International Crisis Group, says negotiations typically make progress on some items while stalling on others; being 95% agreed can be misleading because the final 5% is usually the most difficult. He identifies core disputes over the substance and sequencing of commitments — Tehran prefers to defer details to later rounds while Washington wants clarity up front — with talks covering uranium inventories, the future scope of Iran’s nuclear activities, and additional emerging issues.