Monday, May 28, 2007

Pound Slips Against Other Majors, Monday, May 28, 2007 1:25:05 PM

The British pound saw slight weakness against its major counterparts. The sterling slipped slightly against the dollar, euro and yen after touching near-term highs last week. The U.K. market was closed on Monday.

The pound was flat with the dollar on Monday in New York after falling slightly earlier in the day. The sterling got as low as 1.9823 at 6:45 a.m. ET. In general, the pound has been trending slightly lower since reaching a two-week high last Wednesday.

The sterling and euro were flat during Monday mid-day trading in New York. The British currency fell in the early morning before leveling off beginning at around 2 a.m. On Friday, the pound fell off of a five-week high against its European counterpart.

The pound declined against the Japanese yen on Monday in New York. The sterling trended down throughout the morning before leveling off a little before noon ET. The pound has slipped slightly after reaching its highest level against the yen in three and a half months on Friday.
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