Pound Drops Against Dollar Before Theresa May's Statement: Chart

Is Sterling on a Perpetual Devaluation?

The pound declined before U.K. Prime Minister Theresa May was scheduled to make a statement outside 10 Downing Street at 11:15 a.m. in London. The currency erased an earlier gain versus the dollar, falling from the highest level in three weeks. The U.K. currency is still about 16 percent weaker against the dollar since the nation voted to leave the European Union in a June referendum.