Pound Erases Gain Versus Dollar; Is Little Changed at $1.5925

The pound erased an advance versus the dollar to trade little changed at $1.5925 as of 12:01 p.m. London time, after strengthening as much as 0.3 percent to $1.5986, the highest level since May 16.

Sterling dropped 0.5 percent to 79.70 pence per euro, after sliding to 79.74 pence, the weakest since July 6.