The UK's sterling staged a sharp slide against its major rivals on Wednesday morning in Asia. The pound fell to new multi-year lows of 1.6512 against the US dollar and 165.43 against the Japanese yen by 8:00 pm ET, compared to yesterday's closing values of 1.6708 and 167.36, respectively.
The pound also declined to a 12-day low of 1.9084 against the Swiss franc and a 9-day low of 0.7882 against the euro by this time. This may be compared to yesterday's New York session closing values of 1.9239 and 0.7822, respectively. As of now, the pound is trading at 0.7867 against the euro, 1.6571 against the US dollar, 1.9113 versus the franc and 165.84 versus the Japanese yen.
Traders are now keenly awaiting for the Bank of England's monetary policy meeting minutes, which will be released in the succeeding session.
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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.