RTTN:Pound Extends Decline Against Euro And Swiss Franc
(RTTNews) - The pound continued to move in a descending track against major currencies in early deals on Wednesday.
The pound is presently trading at a 5-day low of 1.3979 against the Swiss franc with 1.3940 seen as the next likely downside target level.
The British currency depreciated almost 0.7 percent to reach a 2-day low of 0.8735 versus the euro around 5:50 am ET from Asian session's 2-day high of 0.8673.
On the downside, the UK's sterling may target support around the 0.8750 level, the 30-day SMA for the EUR/GBP pair.
The pound also reached as low as 119.33 against the yen and 1.5610 versus the US dollar before leveling off around 5:50 am ET. The British unit is presently trading at 119.42 against the yen and 1.5633 versus the buck.
