During European trading on Tuesday, the British currency edged down to a new record low against the Swiss franc. The pound also dropped to a new multi-month low against the yen and a fresh multi-week low versus the euro
Extending Asian session downtrend, the sterling declined further against the euro in European deals today. At around 5:30 am ET, the pound slipped to a fresh multi-week low of 0.8589 versus the euro, compared to yesterday’s close of 0.8539.
Against its Japanese counterpart, the pound plunged further in today’s European deals and currently trading near more than a 2-month low of 126.71. The pound-yen pair was worth 127.75 at yesterday’s close.
The U.K.’s sterling extended its previous session downward trading versus the Swiss franc in European deals and fell to a record low of 1.4563 by about 5:10 am ET. The pair that closed yesterday’s New York session at 1.4814, is now worth 1.4588.
In economic news, Switzerland’s UBS consumption indicator fell 0.08 points to 1.63 in November after stabilizing in October. The latest reading indicates a slight weakening of private consumption during the month.
The fall is primarily attributable to the deterioration of business activity in the traditionally volatile retail sector. The consumer sentiment index also fell in November.
The British currency also edged down against the US dollar during European trading today. The pound slipped to 1.5418 versus the greenback from Monday’s North American session close of 1.5423.
Looking ahead, the U.S. S&P/Case-Shiller home price index for October and the Conference Board’s consumer confidence report for December are expected to influence trading in the upcoming hours.