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Continued concern over global growth saw stock market traders shy away from risk, further undermining the position of the pound, Reuters reports.
Despite the currency's performance, Bank of England representative David Miles argued there was no reason to raise interest rates, amid fears of growing inflation.
Only one Bank Monetary Policy Committee member voted to raise interest rates last month, with the rest fearing a knee-jerk reaction could send Britain into a double-dip recession, reveals the news agency.
Forex traders also noted the fall in the euro this week to 80.67p on Tuesday, its lowest value since November 2008.
The single currency's poor performance was tempered somewhat by gains versus the pound on Wednesday, as demand for the euro at the end of the first half of 2010 shored up its position.
Posted by Greg Secker
