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Pound Slides Against Majors

Reversing direction, the pound slipped against its major counterparts in the European session on Friday.

The pound edged down to 1.2497 against the dollar and 134.91 against the yen, from its early 2-1/2-month high of 1.2582 and more than a 2-month high of 135.75, respectively.

The pound weakened to 1.2386 against the franc and 0.8836 against the euro, off its early 2-day high of 1.2474 and a 4-month high of 0.8786, respectively.

The next possible support for the pound is seen around 1.21 against the dollar, 131.5 against the yen, 1.22 against the franc and 0.90 against the euro.

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