The currency declined the most in two weeks against the dollar after Bradford & Bingley said chief executive Steven Crawshaw will step down just weeks after the lender announced a 300 million pound ($592 million) rights issue aimed at bolstering its balance sheet. The bank said Crawshaw left because of ``a serious cardiovascular condition.''
The pound declined to $1.9737 against the dollar as of 9:14 a.m. in Tokyo, from $1.9823 in New York late last week. It also declined to 78.81 pence per euro from 78.46. It weakened to 208.23 yen from 209.16 yen.