U.K. Pound Erases Decline Versus U.S. Dollar to Trade at $1.6205

The pound erased a drop versus the dollar and pared a decline against the euro.

The U.K. currency traded little changed at $1.6205 as of 11:29 a.m. in London, after falling 0.2 percent to $1.6167.

Sterling stayed 0.3 percent lower at 88.59 pence per euro.