LONDON, Feb 26 - Sterling barely twitched against the euro and the dollar on Tuesday, with stability on the main currencies keeping the pound in very tight ranges. A brief jump by the euro against the dollar following a stronger than expected business sentiment reading in Germany for the month of February failed to ignite the pound. With no major UK data due on Tuesday traders said they expected sterling to remain quiet against both the euro and the dollar. "Cable (sterling/dollar) is being driven by euro/dollar at the moment and it's all been muted so far," one senior trader at a UK bank said. The pound was a shade firmer at $1.4271 by 0905 GMT, but still within its 1.5 cent range of the last two weeks. Against the euro it was trading well within its recent 60-63 pence range at 61.01 and unchanged on the day. "Sterling is not really going anywhere but the factor in the market is really the discussion as to when Britain first hikes interest rates," Jane Foley, currency strategist at Barclays Capital in London. The economic affairs committee of the House of Lords or upper chamber of parliament is due to hear evidence from Bank of England governor Sir Edward George and Deputy Governor Mervyn King at 1615 GMT, which could provide some direction on interest rate expectations. Other data due this week include the first revision to fourth quarter gross domestic product on Wednesday and testimony on Thursday by George and other monetary policy committee members before the Treasury Select Committee on February's inflation report. Sterling's potential for economic and monetary convergence (EMU) to join the European single currency rumbles on although comments on Monday from chief economic adviser to the Treasury Ed Balls had little direct effect on the pound. Balls played down the suggestion politics will help decide on euro entry, stressing the importance of self-imposed econommic tests being met. "EMU is certainly a topic at the back of people's minds but to some extent the market is getting tired of reacting to every single thing people say about it. If the chancellor and the prime minister say something -- yes it will react but the market realises this is not something which will happen quickly," Foley said.