The pound dropped against most major rivals ahead of European deals on Thursday.

The pound slipped to 1.5056 against the greenback and 0.7525 against the euro, off early highs of 1.5088 and 0.7507, respectively.

The pound hit a 4-day low of 177.31 versus the yen, easing from an early high of 178.55.

The next possible downside target for the pound is seen around 1.48 against the greenback, 175.00 against the yen and 0.775 against the euro.

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