The pound is set to rise against the dollar, while the selloff of the global reserve currency continues.According to analysis by Daily FX, foreign exchange brokers and traders are maintaining heavy net long positions on the dollar, although the euro, yen and Canadian dollar are beginning to moderate these positions.However, the forex analysis site concluded that there remain scant prospects for a short-term recovery in the dollar."We can hardly call for major reversals until we see price move substantively in the same direction. As it stands, we remain bearish and forecast losses in the US Dollar," said the site's quantitative strategist David Rodriguez.According to FX Street, the pound moved higher in Asian trading today (October 16th) after a statement from the Bank of England's executive director for markets Paul Fischer declaring that the institution would freeze its asset purchase programme imminently.Many traders had been factoring an expansion of the programme in November into their buying strategy, but Mr Fischer's statements cast doubt on the security of this position.