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At 08:25 BST today (September 15th), the currency dropped 0.1 per cent to $1.5755. The pound also declined against the yen, falling to the lowest level seen since January 2009.
Over the last 12 months, sterling has slumped six per cent against a basket of nine of its major peers, making it the second worst performer after the dollar, according to the Bloomberg Correlation-Weighted Currency Indexes.
Jane Foley, a senior foreign-exchange strategist at Rabobank International in London, told the news provider that the pound is "clearly on the back foot because of its weak fundamentals".
She added that the Bank of England appears to be "more concerned about the weakness of domestic demand" and that it seems to be maintaining the view that inflation will drop back.
Earlier this month, Currency Solutions broker Max Johnson told the Daily Telegraph that the central bank's problems balancing interest rates and inflation suggest there is "little chance of sterling going anywhere fast".
Posted by Greg Secker
