What would an Anglo-American naval war in 1946 look like?

What happens if the Royal Navy and U.S. Navy go to war in the Atlantic in 1946?

Neither side has an easy victory; fleet dispersion, carrier forces, anti-submarine skill, industry, and Atlantic conditions make the result costly and highly contingent.

Both navies were badly positioned for such a conflict: the strongest American concentration remained in the Pacific, while important British carriers and Commonwealth forces were also dispersed. Britain possessed mature anti-submarine experience, carrier projects, and a strong jet program, but the United States held major industrial and battleship advantages. Most American troops still in Britain were logistical units while combat forces were concentrated in France and Germany, so the immediate land balance was more complicated than an occupation-force victory. Any nuclear exchange would depend on limited 1946 stocks and the time required to manufacture additional weapons. The Atlantic's geography and weather would make this a very different contest from the recently concluded Pacific war.