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The UK currency could fall to its lowest level in a month as a result of the world leaders' meeting in South Korea, Bloomberg reports.
Discussions at the summit could see competitive undervaluation of currencies avoided, but it could also result in a decision that favours the greenback.
"Investors have had short positions on the dollar betting on further quantitative easing in the US, but there is a risk factor going into this weekend with the G20," said Lauren Rosborough, senior strategist at Australian financier Westpac Banking Corporation.
However, Reuters has stated that officials from the US have struggled to gain support for its proposal to force other nations to "reduce their current account imbalances".
At approximately 14:00 BST, the pound had lifted slightly to $1.5719 after dropping some 0.3 per cent earlier in the session.
Posted by Chris Weaver
