Sterling Strong On Tuesday, Tuesday, May 15, 2007 2:16:37 PM

The pound was mostly strong in trading against its world counterparts on Tuesday afternoon. In general, the sterling moved as the UK reported on its CPI annual inflation.

In trading with the euro, the sterling saw mixed action on Tuesday. The currency moved between a high of 0.6845 and a low of 0.6854. In general, the currency is at a weekly low.

The sterling was strong against the dollar in trading on Tuesday. By the mid afternoon, the currency had advanced to a mark of 1.9849. Overall, the currency is near a week and a half high.

Versus the yen, the British currency saw strength as trading advanced on Tuesday. The currency climbed steadily to 238.83 into the afternoon. On the whole, the sterling is near a weekly high.

U.K.`s annual consumer price inflation rate came in at 2.8% in April. The number was in line with expectations. The 2.8% rate was last recorded in February.

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