The British pound depreciated sharply vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5825 level and was capped around the $1.6075 level. Data released in the U.K. today saw September factory gate prices increase more than expected, up 0.5% m/m and 0.4% y/y. Also, the August trade deficit narrowed to its lowest level since June 2006, printing at ?6.2 billion. September input PPI was off 0.5% m/m and 6.5% y/y. As expected, Bank of England's Monetary Policy Committee yesterday kept its main Bank Rate unchanged at 0.5% and maintained its program to purchase ?175 billion in government bonds. Cable bids are cited around the US$ 1.5720 level. The euro moved lower vis-à-vis the British pound as the single currency tested offers around the ?0.9290 level and was supported around the ?0.9180 level.