The British pound appreciated vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.6560 level and was supported around the $1.6305 level. Bank of England reported U.K.-owned banks reduced their overseas lending for the second straight quarter in the three months that ended in March. Bank for International Settlements previously reported that banks trimmed their overseas lending by US$ 1.8 trillion in Q4 2008, the largest decline since at least 1977. Cable bids are cited around the US$ 1.6110 level. The euro moved lower vis-Ã -vis the British pound as the single currency tested bids around the ‚¤0.8440 level and was capped around the ‚¤0.8530 level.
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