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According to Reuters, forex traders did not do a great deal of business one day before Christmas Day, although sterling neared three-month lows.
Earlier this morning, the pound reached $1.5477, but it later fell to $1.5438, just above a low of $1.5356 struck on Tuesday.
What's more, Bank of England policymaker Paul Fisher predicted the economy could suffer another period of contraction next year.
Meanwhile, Kenneth Broux, market strategist at Lloyds Banking Group, noted the pound had suffered against nearly every other currency throughout this month.
He added: "The combination of the labour data, softer growth, the high public deficit and potential for problems within the coalition government are putting doubts in people's minds."
This comes after the pound was flat against its US counterpart this morning after revised UK growth figures came in lower than expected.
Posted by Greg Secker
