British Currency Choppy Against Dollar And Euro, Shows Strength Against Yen On Monday, Monday, June 11, 2007 2:28:54 PM

The sterling was mixed against its American and European counterparts on Monday afternoon in New York, while it saw strength against the yen. The currency moved as UK house price inflation numbers were announced.

In trading with the euro, the British currency saw little direction on Monday afternoon. The sterling bounced between a low of 0.6786 and a high of 0.6779. Overall, the British pound is near a weekly high against its European counterpart.

Against the dollar, the British currency saw choppy action as trading progressed on Monday. By the mid afternoon, the sterling had bounced between a high of 1.9695 and a low of 1.9652. In general, the currency is at a two month low.

The British currency was strong against the yen in trading on Monday afternoon. The advance brought the sterling to a mark of 239.84 as action progressed. On the whole, the British pound is near a weekly high against its Japanese counterpart.

UK house price inflation accelerated in April. The house price index climbed a seasonally unadjusted 11.3% annually in April, compared to a 10.9% increase in the previous month.

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