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Pound Plummets
World Economy

Pound Plummets

The pound touched a one-week low versus the dollar before a report that economists say will show claims for unemployment benefits increased in June, having dropped a month earlier, Bloomberg reported. Sterling, the worst performing Group-of-10 currency in the past month, declined against all except one of its 16 major peers even as data showed annual inflation accelerated more last month than analysts forecast. As with the consumer-price numbers, the labor reports do not fully capture the period since Britain voted June 23 to leave the European Union.

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