LONDON: Sterling dropped to the day's low on Wednesday after three lawmakers resigned from Prime Minister Theresa May's ruling Conservative party in a blow to her attempts to unite her party around Brexit.

The pound fell around 0.2 percent to the day's low of $1.3012, down 0.4 percent on the day.

It had traded at $1.3031 before the announcement by the lawmakers, long critical of May's Brexit strategy to leave the European Union.

Sterling also extended losses versus the euro.