Forex trends: sterling losses ground versus rivals

image During Friday morning deals in Asia the British pound weakened relating to its key counterparts.

The pound, thus, plunged to a fresh 4-month low of 0.8984 against the European currency by 9:45 pm ET, compared to 0.8963 hit late New York Thursday. On the downside, support is seen around the 0.904 for the pound.

The pound slipped to 1.6889 against the Swiss franc by 9:45 pm ET, the lowest level since May 15. The next downside target for the pound-franc pair is seen around the 1.679 level. The pair closed Thursday’s North American trading at 1.6923.

The UK currency also slumped to a 10-day low of 1.6372 against the US dollar by about 9:55 pm ET, compared to Thursday’s North American close of 1.6454. On the downside, 1.6373 is seen as the near term resistance.

Against the Japanese yen sterling hit a 2-day low of 149.4 by 9:55 pm ET, with 149.43 expected as the next support level. GBP/JPY rally closed yesterday’s deals at 149.9.


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