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Pound Slides Against Majors
(RTTNews) - The British pound weakened against other major currencies in the European session on Wednesday.
The pound declined to a 3-year low of 1.0502 against the Swiss franc and a 2-1/2-year low of 0.8805 against the euro, from early highs of 1.0532 and 0.8778, respectively.
Against the U.S. dollar and the yen, the pound dropped to a 3-month low of 1.3202 and nearly a 2-week low of 201.01 from early highs of 1.3281 and 201.96, respectively.
If the pound extends its downtrend, it is likely to find support around 1.04 against the franc, 0.89 against the euro, 1.30 against the greenback and 197.00 against the yen.
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