Sterling, Australian dollar weaker

The Australian dollar saw declines on Tuesday after consumer price inflation data came in below what had been anticipated by analysts. Consumer price inflation was up by only 0.1 percent there in the first quarter of 2007, while it had been expected to be up by 0.6 percent. The Australian currency fell 1 percent in relation to both the US dollar and the yen, to $0.8250 and ¥97.80 respectively.

Elsewhere, sterling fell 0.2 percent to ¥236.85 versus the yen, while it also lost 0.2 percent to the US dollar, to $1.9980 in mid-morning trade in London. The US dollar was close to steady against both the yen and the euro in early trade, at ¥118.60 in relation to the yen and at $1.3560 versus the euro. By late afternoon in New York, after the news that existing home sales in the US had dropped by 8.4 percent in March, the dollar was at ¥118.57 against the yen and at $1.3631 in relation to the euro.

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