Sterling falls for third straight session

Sterling fell on Thursday for the third day in a row after the dollar rallied against main currencies, heaping pressure on the royal currency, which was hurt as well by euro's drop today.
 
GBP/USD last traded at 1.2600, down from the opening of 1.2629, with an intraday low at 1.2591, and a four-week high at 1.2705.
 
Sterling widened its losses today as the dollar returned higher versus major currencies, heaping pressure on the pound and sharpening its decline.
 
Dollar's rise against main rivals came after the European Central Bank extended the duration of its program to buy government bonds, which would add liquidity and buoy the greenback.
 
On the other hand, analysts expect the Bank of England to stimuli the economy and keep its expanding monetary policy intact, which would widen the gap between it and the Federal Reserve if the latter hiker interest rates this month.