UK Allows US to Use British Bases for Iranian Strikes

The United Kingdom confirmed Friday it will allow the US to use British military bases for strikes against Iranian missile sites targeting ships in the Strait of Hormuz. The decision follows British ministerial meetings on Iran's continued blockade activities. This escalation could impact GBP through safe-haven flows and oil-sensitive currencies as the Strait of Hormuz handles 20% of global oil transit. Geopolitical tensions typically drive volatility in major pairs involving both currencies.