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Sterling also fell versus the euro as forex traders discussed a possible sell order regarding Standard Chartered, Reuters stated.
According to reports, the order flow has been put at £3.5 billion and forced the pound to drop off its $1.6300 level, which came after the Bank of England (BoE) opted to leave interest rates unchanged yesterday.
A London-based trader observed: "The Standard Chartered rights issue is the word on the street. It would appear that lots has been done already given the price action."
The news provider noted that speculators expect the pound to increase following the sell order.
This comes after sterling recorded a one per cent rise against the dollar yesterday as the BoE also put its asset-buying programme on hold.
Posted by Greg Secker
