Wednesday, May 30, 2007

Sterling Mostly Weak On Wednesday Afternoon, Wednesday, May 30, 2007 2:19:48 PM

While the sterling was choppy against the euro in trading on Wednesday afternoon in New York, the currency saw weakness against its Japanese and American counterparts. The currency traded with little economic news from the area.

In trading with the euro, the sterling saw little direction on Wednesday. By the afternoon, the cable had moved between a low of 0.6800 and a high of 0.6790. Overall, the British currency is at a weekly low against the euro.

The sterling saw early weakness against the dollar on Wednesday. The currency declined to a mark of 1.9741 early on and remained near that mark into the afternoon action. On the whole, the cable is near a two month low against the greenback.

Against the yen, the pound was weak in trading on Wednesday. The drop took the currency to a mark of 239.86 by the mid-afternoon action. Generally, the British currency is at a weekly low against the yen.
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