The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6340 level and was capped around the $1.6595 level. Cable moved higher this week but ceded some territory today as traders booked profits. Sterling was driven higher earlier in the week on rising U.K. inflation expectations. Chancellor of the Exchequer Darling will reported seek an agenda on assets and oil at this weekend€™s Group of Eight meeting in Italy. Cable bids are cited around the US$ 1.6215 level. The euro appreciated vis-à-vis the British pound as the single currency tested offers around the ‚¤0.8540 level and was capped around the ‚¤0.8480 level.