//
It dropped 0.4 per cent against the greenback to finish at $1.5678 after falling to a session-low of $1.5658.
Forex traders suggested that they were awaiting the latest minutes from the Bank of England's (BoE's) monetary policy committee's October meeting.
A London-based spot trader told Reuters: "BoE minutes tomorrow will be crucial for cable's plight over the next few days as the possibility of leaving the option of further quantitative easing out there hanging will give it a dovish tone."
Paul Robinson, head of European FX research at Barclays capital, added that he believes sterling is set to drop in value to $1.51 within the next three months.
On Monday (October 17th), the pound was down 0.3 per cent to finish the day at $1.5771.
Posted by Chris Weaver
