The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5180 level and was capped around the $1.5295 level. Sterling liquidity will remain light through Monday on account of Monday's Bank holiday. Bank of England yesterday issued its first quarter credit conditions survey today in which it reported U.K. mortgage demand may rise in the second quarter. Data released in the U.K. yesterday saw March PMI manufacturing print at 57.2, up from the revised prior reading of 56.5. Cable bids are cited around the US$ 1.4455 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.8870 level and was capped around the £0.8895 level.