The British pound appreciated sharply vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 2.0215 level and was supported around the $2.0085 level. Cable reached its highest level since 18 December 2007 and unlike the euro, managed to sustain some of the gains it earned after the release of the weak U.S. non-farm payrolls numbers. Data released in the U.K. today saw ISD pay deals remain steady at 3.5% in the three months to February. Bank of Englandâ€™s Monetary Policy Committee is expected to possibly reduce interest rates next month or in April. Cable bids are cited around the US$ 2.0040 level. The euro weakened vis-Ã -vis the British pound as the single currency tested bids around the ₤0.7600 figure and was capped around the ₤0.7655 level.
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