The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9760 level and was capped around the $1.9840 level. Cable weakened to its weakest showing since 21 August. Data released overnight saw Hometrack December house prices fall 0.3% to their lowest level in three years. Bank of England MPC policymaker Blanchflower was dovish in remarks saying I take the view that there remains a considerable amount of slack in the UK economy in general and in the labour market in particular… Any apparent evidence of increasing wage pressure that can be construed from these measures is misleading: wage growth is benign and is likely to remain so. Cable bids are cited around the US$ 1.9640 levels. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.7285 level and was supported around the ₤0.7240 level.