The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.4685 level and was supported around the $1.4515 level. Data released in the U.K. saw the April CBI distributive trades survey improve markedly to +3 in April from -44 in March, a fifteen-month high. The U.K. Treasury reported there is a low risk of deflation in the U.K. Cable bids are cited around the US$ 1.4350 level. The euro came off vis-à-vis the British pound as the single currency tested bids around the ‚¤0.8970 level and was supported around the ‚¤0.8880 level.