The British pound depreciated vis-Ã -vis the U.S. dollar today as cable tested bids around the US$ 1.4515 level and was capped around the $1.4675 level. Data released in the U.K. today saw BBA March net mortgage lending ease to ‚¤3.7 billion from ‚¤3.9 billion in February. Similarly, mortgage approvals declined and Hometrack April house prices registered their smallest decline in thirteen months. BBA also reported gross mortgage lending declined to ‚¤8.9 billion in March from ‚¤9.2 billion in February. Cable bids are cited around the US$ 1.4350 level. The euro came off vis-Ã -vis the British pound as the single currency tested bids around the ‚¤0.8965 level and was capped around the ‚¤0.9055 level.
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