UK's Pound keeps downward track ahead of GDP data

The Sterling is down 1% so far this month and hovers near a 7-year low versus US dollar.

The British pound has fallen further on Tuesday strengthening the case for fresh multi-year lows in the week.

GBP/USD traded at 1.4107 during early Asian hours, 40 pips down from the previous close. The pair had hit a 7-year low of 1.4058 on Monday, breaking through the January bottom of 1.4081.

The Sterling has is down more than 1% so far on the month as per Finviz analysis while the rest of majors like euro, yen, Swiss franc, Canadian dollar, Australian dollar and the New Zealand dollar all rising against the greenback.

Against the yen, the pound has dropped more than 8% so far this month and about 15% over since November close.

The market now awaits the UK gross domestic product data scheduled for Thursday. Analysts predict 1.9% year-on-year and 0.5% sequential growth in the fourth quarter.

Market researcher GfK said last month expectations for UK's general economic situation over the next 12 months have increased one point to -5 but added that it was four points lower than this time last year.

GfK will release its February UK consumer confidence index on Friday and the market is expecting the number drop one point to 3.