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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