The British pound appreciated vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.9847 level and was supported around the $1.9795 level. Cable is consolidating some of the losses incurred during the last several trading sessions. Most traders expect Bank of Englandâ€™s Monetary Policy Committee to ease interest rates further early in 2008. Cable bids are cited around the US$ 1.9640 levels. The euro moved higher vis-Ã -vis the British pound as the single currency tested offers around the ₤0.7315 level and was supported around the ₤0.7275 level.
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