Sterling Varied Against Counterparts On Monday, Monday, May 07, 2007 2:07:14 PM

The sterling was varied in trading on Monday afternoon against its world counterparts. The currency moved as the UK reported on its Business Confidence survey for the past three months.

The British currency fell against the dollar in trading on Monday. As the action moved into the afternoon, the pound had declined to a mark of 1.9936. On the whole, the sterling is at a weekly low.

Against the euro, the sterling saw weakness on Monday. By the mid-afternoon, the currency had fallen to a mark of 0.6825. Overall, the cable is within the range of the past two months.

In trading against the yen on Monday, the sterling showed choppy action. The pound bounced between a high of 239.17 and a low of 239.49. Generally, the British currency is at a three and a half month high against the currency.

Manufacturers across the UK revealed marked improvement in business confidence in last three months, helped by better margins and stronger order books.

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