Heat oven to 375°F. Place pork in a shallow pan; season with salt and pepper. Roast for approximately 1 hour until internal temperature reaches 150°F.
Meanwhile, whisk together cherry preserves, wine, vinegar, molasses, garlic and ancho chile in a medium saucepan; season with salt and pepper to taste. Bring to a boil over medium-high heat; reduce temperature to simmer. Simmer for 20 to 30 minutes or until slightly reduced and thickened, stirring occasionally.
During the last 10 minutes of pork cooking, generously brush ancho cherry sauce onto pork, reserving some sauce for serving.
Remove pork from the oven, let rest for about 10 minutes. Brush more sauce on pork; carve pork into slices. Serve with remaining sauce.