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According to Reuters, the currency was down 0.1 per cent against the greenback to $1.5457, close to the $1.5345 it hit on Sunday following the release of poor retail sales data.
Worries about the economic recovery and the level of debt held by the UK also affected the pound's value, causing it to touch a six-week low against a basket of major currencies.
"Sterling's gains against the US dollar have been limited since Friday," analysts at Commerzbank were quoted by the news agency as saying.
The experts added that the exchange rate "is unlikely to breach the area around $1.5550, even if the dollar was to come under pressure temporarily".
Strength in the dollar has also affected commodity prices today, with Bloomberg reporting that copper was down by as much as 1.6 per cent in early trading in London.
Posted by Clive Arneil
