LONDON (Reuters) -The pound rose on Thursday, after the Bank of England delivered a widely expected cut to interest rates, just as Britain was poised to strike a deal with the United States on trade.
Sterling Gains Amid BoE Rate Cut and US Trade Deal Prospects
LONDON (Reuters) -The pound rose on Thursday, after the Bank of England delivered a widely expected cut to interest rates, just as Britain was poised to strike a deal with the United States on trade.
The BoE cut its main rate by a quarter point to 4.25%, despite an unexpected three-way split among policymakers as U.S. President Donald Trump's tariffs weigh on global economic growth.
The pound was last up 0.2% on the day at $1.3311, having rallied from a session low of $1.3242 right before the BoE decision.
UK stocks pared some of the day's gains, but still showed a gain, with midcap stocks up 1%, outpacing the blue-chip index, which rose 0.2%.
UK government bonds came under pressure, sending 10-year yields up 3.5 bps on the day to 4.491%, from 4.446% right before the BoE decision.
(Reporting by Amanda Cooper; Editing by Alun John)
