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The pound had declined one per cent to $1.4530 at the start of trading and was worth $1.4602 at 14:07 BST, Reuters reports.
Continuing worries over the country's economy and increasing debt are putting pressure on the UK currency, with concerns about the economic implications of a possible swine flu outbreak also having an effect.
Daragh Maher of corporate and investment bank Calyon told the news source it is "invariable" that the market will still get "distracted" by past events.
"Sterling cannot but help get caught up in the disappointment of Q1 09 GDP [gross domestic product] data," he stated, adding that it should instead be "more preoccupied" with the signs of improvement in some areas of the economy.
Sterling's value against the euro was 1.1141 during mid-afternoon trading, while its value against the yen stood at 141.3400.
