British Currency Uncertain Against Counterparts On Tuesday Afternoon, Tuesday, June 26, 2007 2:32:30 PM

The British currency moved little against its major counterpart on Tuesday afternoon in New York. The pound moved as the UK reported on its productivity gap.

The pound was choppy in trading against its American counterpart on Tuesday afternoon. The currency moved between a high of 2.0011 and a low of 1.9962. Generally, the British currency is near a two and a half month high against the buck.

The British currency moved little against the Japanese yen in trading on Tuesday afternoon. The sterling held in a range with a high of 246.90 and a low of 245.38. On the whole, the British pound is near a weekly low against the yen.

In trading against the euro on Tuesday afternoon, the British currency saw little movement as action progressed. The pound bounced between a low of 0.6738 and a high of 0.6727. Overall, the British currency is near a weekly low against the euro.

The UK has succeeded in narrowing the productivity gap with other major economies like France, Germany and the USA. Yet output per hour worked in the UK trailed Germany`s productivity by 13%, while output per hour worked in the UK was 20% below that of France and 18% below that of the US.

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