Sterling fell in early Asian trading as investors brace for the start of the two-year negotiation for the U.K. to leave the European Union.
The pound fell as much as 0.6 percent to 1.2377 per dollar, and was the worst performer among the Group-of-10 which saw muted trading. Some funds left it late in adjusting positions and then did so in poor liquidity, said a trader who asked not be identified as he isn’t authorized to speak publicly. Britain’s ambassador is expected to hand EU President Donald Tusk a letter at around 1:30 p.m. local time in Brussels invoking Article 50 of the Lisbon Treaty.
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