DailyFX analysts maintained a bearish bias against the British pound throughout February and were rewarded as the currency saw across the board weakness. Sterling sharply fell over 1,200 pips against both the dollar and Yen on the back of broader risk aversion, weak growth and a dovish BoE.  

The British Pound halted the three-day decline and is the best performing currency against the U.S. dollar on Thursday, while the New Zealand dollar extended the decline following the RBNZ interest rate decision, with the exchange rate slipping to a low of 0.6964.