Published by Zeb BhamSterling is likely to fall as low as $1.55 in foreign exchange trading, analysts have suggested, amid speculation that quantitative easing (QE) is a possibility.According to Reuters, the UK currency fell below $1.60 for the first time since January as the minutes from the Bank of England's Monetary Policy Committee meeting - released on Wednesday (June 22nd) - caused traders to take action.The pound hit a low of $1.5938 as the US offered a more positive outlook following the Federal Reserve Meeting.CIBC currency strategist Jeremy Stretch said: "Risk-off sentiment and the increased possibility of more QE in the UK is encouraging sterling lower against the dollar."However, there was more positive trade versus the euro, as the single currency fell 0.8 per cent to 88.55 pence.Earlier this week, Gavin Friend, currency strategist at nabCapital, told Reuters that it was unsurprising sterling is weakening in light of the base rate being unlikely to change in the near future.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site