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 was at to its highest level in two-and-a-half years after the Bank of England left its key interest rate unchanged, taking a more cautious approach than the Federal Reserve. The pound climbed 0.

The British pound rose against the dollar on Wednesday after UK inflation data boosted the market view that the Bank of England will keep interest rates steady on Thursday, in contrast with an expected start to the U.