The British pound weakened to around $1.33, its lowest level since late July, as investors assessed Middle East developments and weaker-than-expected UK PMI data. The US dollar remained supported by expectations of further Federal Reserve tightening. Brent crude stayed below $100 a barrel amid Saudi Arabia’s plans to restart a key pipeline and signs of progress in US-Iran talks. Markets continued to price a solid chance of a 25-basis-point Bank of England rate increase in November, despite softer oil prices. Preliminary September PMI data showed that UK private-sector activity continued to expand, but growth slowed and slightly missed expectations. Services companies pointed to subdued domestic demand and geopolitical uncertainty, while technology services supported activity. Manufacturing growth continued to benefit from investment in artificial intelligence and higher defense spending.