The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5455 level and was capped around the $1.5505 level. Prime Minister Brown and Tory leader Cameron debated ahead of the 6 May general election. Many political pundits believe the contest will result in a hung Parliament and some now say the general election is too close to call with Cameron perhaps still holding a slight lead over Brown. Data released in the U.K. today saw March Nationwide consumer confidence print at 72, down from a revised +81. Cable bids are cited around the US$ 1.5140 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.8750 level and was capped around the £0.8830 level.
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