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This morning saw the currency pair fall from $1.26 to $1.2494, despite investors dumping the dollar as fears continue to mount over President Trump's new immigration policy, and the risks his protectionist views may pose for the U.S. economy.
GBP/USD graph
So why has the pound fallen against the dollar?
It would seem the uncertainty surrounding the upcoming Brexit negotiations and the triggering of Article 50 are still weighing heavily on the pound.
Investors will also be looking ahead to Thursday's Bank of England meeting. Although we are not expecting any major surprises from Mark Carney and the Monetary Policy Committee, markets will be erring on the side of caution as they wait for the latest inflation are growth forecasts.
It is widely expected that Mark Carney will announce the UK central bank will revise up its short-term inflation and growth forecasts, as the UK economy has continued to perform well since the referendum result in June, which if happens could see the pound claw back some of the ground it has lost during today's trading session.
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As a specialist in currency exchange I have a range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.
For more information about how I can help or to find out what rate of exchange I can offer, complete the contact form by click on the link below.
