BRITAIN last week took the first step in a three-year conversion of its currency to the decimal system by introducing the first two new coins, the 5-new-pence piece and the 10-new-pence piece.

It was its lowest level since the decimalization of the currency in 1971. The British currency has lost more than 5% of its value against the dollar since Friday, when Kwarteng announced the ...

The British currency briefly reached a low point against the U.S. dollar, and statements from the government and central bank did little to steady the markets. By Eshe Nelson Value of the British ...