The British pound moved higher vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.9845 level and was supported around the $1.9735 level. Sterling moved higher on news that U.K. brewer Scottish & Newcastle Plc is being purchased by Carlsberg AS and Heineken NV for about ₤7.6 billion. Also, Bank of England Monetary Policy Committee member Sentance yesterday indicated the markets are ignoring the upside risks to inflation. Other data released today saw English and Welsh corporate insolvencies off 7.3% y/y in 2007. Cable bids are cited around the US$ 1.9260 level. The euro weakened vis-Ã -vis the British pound as the single currency tested bids around the ₤0.7410 level and was capped around the ₤0.7480 level.
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