The pound extended previous session's decline against the dollar on Thursday morning in New York, slipping below the key 1.54 level for the first time since January 18.
The cable has been falling throughout May and depreciated almost 5.8 percent so far in the month to reach a low of 1.5363 around 11:00 am ET from an 8-month peak of above 1.63 hit in April. On the downside, the pair may target support around the 1.5330 level in the near-term.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.