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Pound Drops Against Majors
(RTTNews) - The British pound came under pressure against other major currencies in the European session on Wednesday.
The pound fell to a 3-week low of 1.2421 against the U.S. dollar, from an early high of 1.2494.
Against the euro and the Swiss franc, the pound dropped to 5-day lows of 0.8721 and 1.1159 from early highs of 0.8689 and 1.1193, respectively.
Moving from an early high of 170.60 against the yen, the pound edged down to 170.11.
If the pound extends its downtrend, it is likely to find support around 1.22 against the greenback, 0.88 against the euro, 1.10 against the franc and 165.00 against the yen.
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