The pound erased a decline against the euro to trade little changed at 79.67 pence as of 4:03 p.m. London time.

The U.K. currency was 0.4 percent weaker at $1.6031.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net