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 surges to new multi-year highs against the USD, driven by the Bank of England's and the Fed's recent decisions.

The Bank of England's decision follows the US Federal Reserve's decision to cut its base rate by an unusually large half-point to around 4.8%, to help bolster the jobs market, which has shown clear signs of slowing.