News Column

Pound Slides Against Majors

July 14, 2014

BRUSSELS (Alliance News) - The pound drifted lower against its major rivals in European deals on Monday.

The pound touched an 11-day low of 1.5232 against the franc and a 4-day low of 0.7966 against the euro, after rising to 1.5288 and 0.7938,respectively in early deals.

The pound pulled away from early 4-day high of 174.00 against the yen and was trading at 173.57. Against the greenback, the pound eased to 1.7104, off early high of 1.7143.

The next possible downside target for the pound is seen around 1.70 against the greenback, 172.5 against the yen, 1.51 against the franc and 0.80 against the euro.

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Source: Alliance News

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