The British pound lost additional ground vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6675 level and was capped around the $1.6825 level. Bank of England€™s Monetary Policy Committee yesterday surprised the markets by expanding its bond purchase program by ‚¤50 billion. Data released in the U.K. today saw July producer price inflation index up 0.3% m/m and were off 1.3% y/y. Core PPI was up 0.5% m/m and 0.2% y/y while input producer prices were off 1.4% m/m and 12.2% y/y. Cable bids are cited around the US$ 1.6485 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ‚¤0.8500 figure and was capped around the ‚¤0.8595 level.