Investing.com - Sterling Monday fell back below the $1.24 mark as U.K. to trigger Brexit talks on March 29.
The pound was off 0.08% at $1.2386 at 08:30 ET after an intraday higher of $1.2436.
Reuters quoted a U.K. spokesman as saying PM Theresa May to write to Brussels on March 29 on initiating talks for U.K. to leave EU.
Under Article 50 of the EU charter, the talks are expected to last for up to two years.
May has indicated she is leaning toward a so-called "hard" Brexit to restore U.K. control over immigration.
Under a hard Brexit Britain would have to forgo membership of the single market.
The pillars of the EU are based on freedom of movement of labor, goods and services and capital.
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