Pound Retreats Against Majors
16 May 2017 - 3:46PM
RTTF2
The British pound retreated from recent highs against major
currencies in the Asian session on Tuesday.
The pound fell to nearly a 6-week low of 0.8578 against the euro
and nearly a 2-week low of 1.2760 against the Swiss franc, from
early highs of 0.8502 and 1.2861, respectively.
Against the U.S. dollar, the pound dropped to a 4-day low of
1.2865 from an early 6-day high of 1.2957.
The pound edged down to 146.09 against the yen, from an early
5-day high of 147.11.
If the pound extends its downtrend, it is likely to find support
around 0.87 against the euro, 1.25 against the franc, 1.24 against
the greenback and 143.00 against the yen.
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