In early European trading the UK sterling lost ground against its key counterparts, touching an 8-day low against the US dollar. Around 3:50 am ET, the pound touched lows of 0.8700 and 148.36 against the euro and the yen, respectively. The present quotes EUR/GBP and GBP/JPY pairs are 0.8694 and 148.45, respectively. On Wednesday's New York session close, the euro-pound and the pound-yen pairs were trading at 0.8658 and 148.70, respectively. Against the US dollar, the pound plunged to an 8-day low of 1.6190 at 3:50 am ET. At present, cable is worth 1.6195, compared to yesterday's New York session close of 1.6292. The pound hit a low of 1.6936 against its Swiss counterpart at 3:50 am ET. As of now, GBP/CHF pair is trading at 1.6940. This level may be compared to previous day's close of 1.7010.

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