The British pound weakened against most major currencies in the late Asian session on Wednesday.
The pound fell to nearly a 2-year low of 165.07 against the yen and a 1-year low of 0.7742 against the euro, from yesterday’s closing quotes of 166.50 and 0.7701, respectively.
Against the Swiss franc, the pound dropped to more a than 7-month low of 1.4147 from yesterday’s closing value of 1.4197.
If the pound extends its downtrend, it is likely to find support around 164.00 against the yen, 0.78 against the euro and 1.40 against the franc.
The material has been provided by InstaForex Company – www.instaforex.com