Britain's pound rose against the dollar and the euro on Wednesday as investors debated whether or not the Bank of England would cut interest rates when it meets next week.

Financial markets saw less chance on Wednesday that the BoE would trim the current 0.75% rate at its meeting on Jan. 30, after the Confederation of British Industry reported a pick-up in manufacturers' sentiment.

Money-market pricing suggests investors see around a 50% chance of a quarter-point rate cut, down from 70% on Monday, Refinitiv data showed.

The pound gained to its strongest level against the euro in more than a month at 84.23 pence, building on gains seen in the previous session. It reached a two-week high of $1.3153 versus the U.S. dollar.

Source : Reuters