//
According to Reuters, sterling was down at $1.5723 but later moved to a one-month low of $1.5686, dropping lower along with the euro.
The single currency fell against the UK tender as according to analysts, many investors thought the pound was a better investment than the European coinage.
Geraldine Concagh, economist at AIB Group Treasury in Dublin, said: "The euro's falls against sterling have been much milder than against the dollar and cable has come off."
The news provider noted the euro was under pressure in terms of selling due to reports the eurozone debt crisis may spread to countries other than Greece and Ireland.
This comes after sterling reached a near two-month high against the single currency yesterday as it stood at 84.50 pence, close to a low of 84.28 not experienced since September 21st.
Posted by Greg Secker
