News Column

Pound Slides Against Majors

May 27, 2014

BRUSSELS (Alliance News) - Erasing early advance, the pound declined against its major rivals in European deals on Tuesday.

The pound retreated from early 2-day high of 1.5105 against the franc and slipped to 1.5060, short of few pips to pierce early multi-day low of 1.5058.

Moving away from near 2-week high of 171.96 against the yen, the pound dropped to a 2-day low of 171.27.

The pound declined to a weekly low of 1.6811 against the greenback, off early multi-day high of 1.6881.

The pound that eased from an early high of 0.8085 against the euro fell to a 6-day low of 0.8112.

The next possible downside target for the pound is seen around 1.50 against the franc, 170.3 against the yen, 1.675 against the greenback and 0.82 versus the euro.

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Source: Alliance News

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