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"The debt crisis is still a key issue that undermined the euro"
- Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd.
U.K. stocks lost ground on Wednesday after soaring on Tuesday. The benchmark FTSE 100 index lost 0.55%, or 31.46 points, to 5,668.45. The FTSE All-Share Index shed 0.59%, or 17.23 points, to 2,906.40.
The euro fell to 82.64 pence, its lowest since September 2010. "My target for EURGBP is 82.50 with further downside vulnerable should the upcoming (euro zone) debt sales disappoint," said a London-based spot trader.
"The debt crisis is still a key issue that undermined the euro," said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. "It's the euro weakness rather than sterling strength."