The British pound extended recent losses vis-à-vis the dollar today as cable tested bids around the US$ 1.6275 level and was capped around the $1.6515 level. Bank of England Monetary Policy Committee member Sentance reported the U.K. economy is expected to return to economic growth in the second half of the year and said global economic growth will in part depend on Asian economies. Data released in the U.K. overnight saw the Rightmove August house price index off 2.2% m/m and 3.1% y/y. Cable is now off seven big figures over the past ten days. Sterling remains pressured by BoE€™s announcement that it is expanding its bond-buying operations by ‚¤50 billion. Sterling is also being pressured by increased borrowing and deficit spending. Cable bids are cited around the US$ 1.5975 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ‚¤0.8645 level and was supported around the ‚¤0.8585 level.