The European currency extended its previous session’s downtrend versus other major currencies in early Asian trading on Friday.
The common currency plummeted to a fresh 7-week low of 0.8452 against the pound around 6:50 pm ET, down almost 30 pips from Thursday’s North American close and the pair is presently quoted at 0.8461. The next downside target for the euro-pound pair is likely to be seen around the 0.8430 level.
The euro slumped to a 6-week low of 1.3609 against the US dollar at this time and this may be compared to Thursday’s New York session closing value of 1.3668. The euro-buck pair is presently worth 1.3621 with 1.35 seen as the next likely support level.
Against the yen, the single currency slipped to a 3-day low of 112.17 by this time and the pair targets the 111.60 support, which would set its lowest mark in two weeks. The euro-yen pair settled Thursday’s North American trading at 112.75.
The euro reached as low as 1.3297 against the Swiss franc before holding steady around 6:50 pm ET. The euro-franc pair, which finished yesterday’s deals at 1.3329 is presently quoted at 1.3299. On the downside, the euro may re-test yesterday’s lows of 1.3260 and a move below this level could set its weakest point in more than six weeks.