The British pound gained marginal ground vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.9845 level and was supported around the $1.9755 level. Technically, todayâ€™s intraday low was right around the 61.8% retracement of the move from $1.9360 to $2.0395. Data released in the U.K. today saw Rightmove March house prices rise 0.8% m/m. Most traders believe Bank of England will reduce interest rates by May. Cable bids are cited around the US$ 1.9605 level. The euro weakened vis-Ã -vis the British pound as the single currency tested bids around the ₤0.7755 level and was capped around the ₤0.7790 level.
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