The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5965 level and was supported around the $1.5775 level. Bank of England Monetary Policy Committee member Sentance indicated he sees indications the worst of the economic downturn has passed and added he is €œhopeful€ the economy will improve later this year or in 2010. Cable bids are cited around the US$ 1.5315 level. The euro lost ground vis-à-vis the British pound as the single currency tested bids around the ‚¤0.8755 level and was capped around the ‚¤0.8805 level.