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The British pound gained ground vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.6325 level and was supported around the $1.6190 level. Bank of England Monetary Policy Committee member Spencer reported employment has not decreased as much as expected and suggested unemployment may not surpass the psychologically-important three million level. Other data released in the U.K. today saw Rightmove December house prices decline 2.2% m/m and climb 1.7% y/y. Cable bids are cited around the US$ 1.6155 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ?0.8975 level and was capped around the ?0.9050 level.
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