Credit: REUTERS/DADO RUVICBy 1422 it was trading at $1.2850 GBP=D3 and againt the euro it was down 0.3% at 86.5 pence EURGBP=D3.
Lee Hardman, a strategist at MUFG said the latest leg lower came after a slight move up in the dollar but markets are also waiting for the European Union's decision on granting Britain a Brexit extension.
Hardman added: "Either way the pound came a long way in a short period of time and if we were to go down the general election route that would put a dampener on the pound."
(Reporting by Sujata Rao)
((sujata.rao@thomsonreuters.com; +44 207 542 6176;))
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