The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5485 level and was supported around the $1.5365 level. Traders are closely monitoring the lead-up to the U.K. general election on 6 May amid talk that Prime Minister Brown may have narrowed the gap against Tory challenger Cameron, the presumed favourite. Dealers are still speculating the most likely scenario will be a hung Parliament and sterling has generally been weaker as a result of this premise. Data to be released in the Australasian session include the BRC March retail sales monitor and the March RICS house price balance. Cable bids are cited around the US$ 1.5140 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the £0.8845 level and was supported around the £0.8805 level.
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