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Sterling falls below $1.27 for first time since 1985

Fears of a hard Brexit from the EU also pushing the currency to a five-year trough against a broadly stronger euro

Reuters  |  London 

Britain's pound dipped below $1.27 for the first time since June 1985 on Wednesday, with fears of a 'hard' Brexit from the European Union also pushing the currency to a five-year trough against a broadly stronger euro. Sterling has been buffeted for a fortnight by worries that Britain will prioritise curbing immigration over promoting trade in its divorce from the bloc, thereby gumming up labour markets, curbing foreign investment and leading to cutbacks by banks and other global companies. That has been the broad takeaway for markets from this week's conference ...

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First Published: Wed, October 05 2016. 19:42 IST
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