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Forex traders mainly stayed away from sterling as it moved down to $1.6066, Reuters reports.
But the news provider pointed out the losses were limited as there was demand for the pound from an Asian sovereign name, according to some in the market.
This comes after rumours were circulating that the Bank of England (BoE) failed to raise the interest rate yesterday, from its record low level of 0.5 per cent, due to there being a lack of clarity regarding the central bank's rate position.
John Hydeskov, currency strategist at Danske, stated: "We're not clearer on the central bank's stance than we were before the decision. We still don't know whether the MPC [Monetary Policy Committee] has more hawks."
This comes after the pound decreased to $1.6012 shortly after yesterday's BoE interest rate announcement.
Posted by Greg Secker
