Pound Hits 4-week Low Against Franc And Euro

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Pound Hits 4-week Low Against Franc And Euro

The pound lost ground against the euro and the Swiss franc in early European session on Monday amid a slide in regional stocks.
Italian Prime Minister Mario Monti warned Europe that the region is facing the threat of a psychological disintegration and urged all leaders to become more independent from their parliaments.
The pound fell to 1.5122 against the Swiss franc and 0.7949 against the euro, its lowest levels since July 9. On the downside, the pound may target 1.505 against the franc and 0.80 against the euro. The pound closed last week's deals at 1.5187 against the franc and 0.7917 against the euro.

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