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Sterling Gains Ground Following Central Bank Decision and US Trade Deal News

Published: 05-08-2025, 11:45 am | Updated: 05-08-2025, 10:27 am

The British pound strengthened on Thursday after the Bank of England cut interest rates by 0.25 percentage points to 4.25%, with an unexpected split among policymakers where two voted to maintain current rates. Sterling gained 0.24% against the U.S. dollar to $1.33215. The currency was also boosted by news that the U.S. and Britain will announce a trade deal to lower tariffs on some goods, as confirmed by President Trump who described it as a “full and comprehensive” agreement.

Original Source: Reuters

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