For a second consecutive day, sterling is again seen under pressure against the dollar as the political uncertainity is continuing in the prospect of a hung parliament. Audrey Childe-Freeman, currency strategist at Brown Brothers Harriman said: "The scale of sterling’s move yesterday was so big that we may see a pause now, but the downward momentum is still intact and investors remain inclined to sell into any rallies. Underlying sentiment is bearish due to the same themes - uncertain politics, poor economic performance, an uncertain monetary policy outlook and concern about debt. It’s hard to see anything positive for sterling at the moment."
The pound traded at $1.4920 down 0.5 percent.