Sterling soared to its highest level in two and a half years against the US dollar after the Bank of England held its interest rate steady, diverging from the Federal Reserve’s substantial rate cut. V

The Pound Sterling surges above 1.3250 against the US Dollar following the Fed’s large rate cut and expectations of further policy easing. Investors focus on the BoE policy meeting, with markets expecting the UK central bank to leave interest rates unchanged at 5%.

The pound rose to its highest level in more than two years after the Bank of England held interest rates steady and said it won’t rush to ease policy.