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According to Reuters, sterling was down at $1.5722, below its 100-day moving average of around $1.5750.
The news provider pointed out the pound was affected by poor results in a UK housing survey by Rightmove, highlighting the weakness of the UK property sector.
Ian Stannard, currency strategist at BNP Paribas, said: "The pound has support in the $1.5660-70 area. A break below that could cause a much bigger move to develop towards the November lows (around $1.5485)."
And he added the pound could be in even more trouble if a survey due out today from the Royal Institute of Chartered Surveyors shows similar figures to those in the Rightmove report.
Earlier this morning, the pound was down 0.4 per cent against its US counterpart off the back of the results of the Rightmove survey.
Posted by Greg Secker
