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Forex traders mainly stayed away from sterling as it moved down to $1.6065 versus its US counterpart, Reuters reports.
The latter managed to bounce back from early losses due to a weak reading of US payrolls as some pointed towards a ten-year Treasury yield helping to boost demand for the dollar.
But earlier this morning, it was the pound increasing against various currencies, such as the euro, which was down by 0.1 per cent following positive figures from the Halifax.
The company revealed property prices were higher than expected last month as they advanced by 0.8 per cent in January.
However, this gave rise to further speculation about a possible interest rate rise - the current level stands at a record low 0.5 per cent - by the Bank of England.
Posted by Greg Secker
