The pound lost ground against the U.S. dollar on Wednesday's early European session amid U.K. Prime Minister David Cameron's speech about the membership in the European Union.
Cameron said that Euro-zone problems are fundamentally changing the Europe and there is competitive crisis. He added that EU is a means to an end and UK will always survive as an European power.
The pound that closed yesterday's deals at 1.5841 against the greenback fell to 1.5805 for the first time since August 31. The next support level for the pound-greenback pair is seen at 1.575.
For comments and feedback contact: editorial@rttnews.com
Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.