The British pound weakened against the other major currencies in the Asian session on Tuesday.
The pound fell to nearly a 5-month low of 0.7429 against the euro, nearly a 4-week low of 1.4733 against the Swiss franc and more than a 3-week low of 181.28 against the yen, from yesterday’s closing quotes of 0.7408, 1.4768 and 181.95, respectively.
Against the U.S. dollar, the pound dropped to a 4-day low of 1.5156 from yesterday’s closing value of 1.5172.
If the pound extends its downtrend, it is likely to find support around 0.75 against the euro, 1.46 against the franc, 180.00 against the yen and 1.50 against the greenback.
The material has been provided by InstaForex Company – www.instaforex.com