Sterling plumbs four-week trough

Sterling declined in European trade against dollar to four-week lows, resuming yesterday's losses ahead of the Federal Reserve's policy decisions later today.

GBP/USD fell 0.2% to 1.3633, the lowest since August 23, with a session high at 1.3678.

Yesterday, the pound rose 0.1% against dollar, the first profit in four weeks.

The dollar index rose 0.1% on Wednesday, resuming gains after two days of profit-taking against a basket of major rivals. 

The Federal Reserve will decide on monetary policy and offer some clues on the pace of cutting down the bonds purchases program. 

Sterling is also pressure by expectations surrounding the Bank of England's meeting tomorrow, with members expected to support in favor of continuing current easy policies.