The pound approached a three-decade low set in the days following the Brexit referendum after U.K. Prime Minister Theresa May said she'll begin the process of withdrawal from the European Union in the first quarter of 2017.


Prime Minister May said she'll invoke Article 50 of the EU's Lisbon Treaty -- which triggers a two-year withdrawal process -- by the end of March. She also promised to control immigration while retaining access to the single market, though the details remain hazy. The pound has fallen 14 percent versus the dollar since the British people voted to quit on June 23, and just completed its worst quarterly run of losses since 1984, with five straight declines.

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