1345 GMT - The Bank of England's 8-1 vote to keep interest rates unchanged gives sterling a modest lift but the currency remains largely driven by external factors, TD Securities strategists say in a note. The fact that just one policymaker voted in favor of a rate cut is helping sterling at the margin but this is "nothing too big or surprising." Sterling moves have been largely driven by global macroeconomic events recently, they say. Optimism over German and EU fiscal stimulus and worries about U.S. growth have weakened the dollar. However, sterling could suffer a pullback versus the dollar as the April 2 U.S. reciprocal tariff deadline approaches, they say. The euro falls to two-week low of 0.8360 pounds after the BOE decision, according to FactSet. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

March 20, 2025 09:45 ET (13:45 GMT)

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