The British pound came off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6045 level and was capped around the $1.6165 level. The CBI reported the U.K. economy is likely to emerge from the recession more slowly than the government expects. CBI believes the economy will expand 1.2% in 2010 and 2.5% in 2011, significantly below the government's forecast of 3.5%. Cable bids are cited around the US$ 1.5955 level. The euro moved higher vis-à-vis the British pound as cable tested offers around the ?0.8925 level and was supported around the ?0.8870 level.