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.
by RTT Staff Writer
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