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Forex traders might have been interested to note that Reuters revealed sterling was at $1.5770, although the greenback decreased against a currency basket due to a rally for the US tender this week.
A London-based spot trader stated: "Sterling's still a sell for me and I'm looking to sell cable at $1.5850 for a move back down to $1.5650."
This comes as the news provider pointed out that analysts are expecting the Confederation of British Industry to show a retreated balance in annual sales growth in October compared to the six-year high of 49 that was achieved in September.
Yesterday morning, the pound fell by 0.5 per cent against the dollar as it moved down to $1.5775, following a one-week high of $1.5897 experienced on Tuesday, Reuters reported.
Posted by Chris Weaver
