The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4575 level and was capped around the $1.4770 level. Chancellor of the Exchequer Darling said the markets can support the U.K. government€™s planned ‚¤125 billion of gilts issuance this year. March retail sales were up 0.3% m/m and up 1.5% y/y and Q1 GDP were off 1.9% q/q and 4.1% y/y. Cable bids are cited around the US$ 1.4350 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ‚¤0.9080 level and was supported around the ‚¤0.8920 level.