Pound Trades Near Weakest in Month Versus Dollar Before G-20

The pound posted its biggest weekly loss against the dollar since August amid speculation this weekend’s Group of 20 meeting in South Korea may result in an accord that will support the U.S. currency.

Sterling slid for a sixth week versus the euro, the longest stretch since November 2004, as G-20 finance ministers and central bankers ended today’s round of talks. The finance chiefs plan to say members will avoid “competitive undervaluation” of currencies, according to an official from a member country, citing a draft statement and speaking on condition of anonymity. The pound and dollar have both dropped versus the euro this month on concern the Bank of England and Federal Reserve will engage in asset purchases, known as quantitative easing.