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Forex News: Pound Slides Against Majors

Pound Slides Against Majors

10/16/2024 - 02:53:00 (RTTNews)

(RTTNews) - The British pound weakened against other major currencies in the pre-European session on Wednesday.

The pound fell to nearly a 2-month low of 1.2986 against the U.S. dollar and a 6-day low of 193.78 against the yen, from early highs of 1.3078 and 195.30, respectively.

Against the euro and the Swiss franc, the pound dropped to a 5-day low of 0.8376 and a 2-day low of 1.1204 from early highs of 0.8327 and 1.1280, respectively.

If the pound extends its downtrend, it is likely to find support around 1.28 against the greenback, 191.00 against the yen, 0.84 against the euro and 1.11 against the franc.

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