June 15, 2009 - 7:25am
During early Asian deals on Monday, the British pound depreciated against majors after the Confederation of British Industry reported it expects modest growth to resume only during the first three months of 2010, with the growth rate gradually picking up next year. The business lobby said the GDP would flatten in the second half of this year, underpinned by low interest rates and quantitative easing.
During early deals today sterling weakened against the US dollar, touching a low of 1.6365, with 1.588 seen as the next downside target level. Cable closed last week deals at the level of 1.6445.
Against the European currency pound, that closed Friday’s North American deals at 0.8520, dropped to 0.8533 at 10:00 pm ET Sunday. On the downside, EUR/GBP rally would see 0.872 as the next resistance point.
Pound slid to the level of 1.7705 against franc by about 10:10 pm ET, compared to Friday's closing value of 1.7767. GBP/CHF pair was likely to touch 1.737 further.
Early morning on Monday the British pound edged down versus the Japanese unit, dropping to 160.91, with 155.6 seen as the next resistance level. GBP/JPY pair was quoted as much as 161.76 late Friday in New York.
During early deals today sterling weakened against the US dollar, touching a low of 1.6365, with 1.588 seen as the next downside target level. Cable closed last week deals at the level of 1.6445.
Against the European currency pound, that closed Friday’s North American deals at 0.8520, dropped to 0.8533 at 10:00 pm ET Sunday. On the downside, EUR/GBP rally would see 0.872 as the next resistance point.
Pound slid to the level of 1.7705 against franc by about 10:10 pm ET, compared to Friday's closing value of 1.7767. GBP/CHF pair was likely to touch 1.737 further.
Early morning on Monday the British pound edged down versus the Japanese unit, dropping to 160.91, with 155.6 seen as the next resistance level. GBP/JPY pair was quoted as much as 161.76 late Friday in New York.