The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5090 level and was supported around the $1.4935 level. Data released in the U.K. today saw consumer price inflation decline in October at its fastest pace since at least 1997. CPI growth decelerated to 4.5% y/y from 5.2% y/y in September, representing its lowest level since July and off 0.2% m/m. Core inflation fell to 1.9% y/y from 2.2% y/y in September. Short sterling interest rate futures are pricing in additional easing by Bank of England’s Monetary Policy Committee over the coming months. Chancellor of the Exchequer Darling reported the government will continue to purchasing shares at discounted prices in companies that participate in its recapitalization scheme. Cable bids are cited around the US$ 1.4315 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.8355 level and was capped around the ₤0.8450 level.