Pound Drops Versus Euro as Greece Says Work to Start on Accord
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The pound weakened versus the euro for the first time in three days after a Greek government official said his nation will start drafting a staff-level funding agreement with representatives of international creditors.
Sterling extended its longest run of losses against the dollar since March as the Greek comments eased demand for the British currency as a haven. Officials from Greece and representatives of creditor institutions are to start drafting the accord on Wednesday, a Greek government official said in an e-mail to reporters. A European Union official said Greece’s creditors aren’t yet drafting a final accord.