The pound fell below $1.30
for the first time in almost a month as investors prepared for data that will
give further clues on the state of the U.K. economy in the wake of the decision
to quit the European Union.
Britain’s currency dropped
for a fifth day and ceded ground to all of its 16 major peers amid speculation
the reports, due next week, will show an economy reeling from the Brexit vote
on June 23. Sterling is suffering its longest losing streak since May after the
Bank of England cut interest rates for the first time since 2009 in its Aug. 4
policy announcement, while exceeding economists’ expectations on quantitative
easing.
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