Forex trends: pound creeps down hitting 8-1/2 months low vs dollar

British pound depreciated against its main rivals in late Asian deals, touching its lowest in 8-1/2 months level against the US dollar. Sterling also slipped against the euro and yen, while moving sideways against the Swiss franc.

The pound that climbed to a 4-day high of 0.869 against the euro earlier in the session started reversing its direction in late trading. As of 1:40 am ET, the pound reached a low of 0.8733 against the euro. The EUR/GBP pair was worth 0.8712 at Thursday's close.
Retreating from its early Asian uptrend, the pound declined to 140.78 against the Japanese yen around 1:00 am ET. GBP/JPY pair that closed yesterday's deals at 140.21 is presently quoted at 141.1.

The pound that surged up against the Swiss franc in early Asian trading on SNB intervention rumours moved sideways in late trading. GBP/CHF pair is presently quoted at 1.6881, compared to 1.6816 hit late New York Thursday.

The UK currency has been trading lower against the US dollar and reached 1.5707 by 1:40 am ET and this set the lowest level for the pair since May 21, 2009. GBP/USD rally is currently quoted at 1.5715 and the next downside target for the pair is seen at 1.5550.