The British pound continued its decline against the United States dollar and the euro on Thursday as traders seemingly remained concerned about the United Kingdom government's strong commitment to a low tax policy and the country's economic prospects if London sticks to those plans.

The greenback could have also been boosted by a renewed appetite for safe haven assets, as US stocks stood in the negative territory in the early portion of the trading session in New York.

The UK currency tumbled 1.32% against the dollar, going for 1.11746 at 5:17 pm CET. The euro gained 0.75% compared to the sterling, trading at 0.87920 a minute later.