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The Independent UK

National

Via AP news wire

Tax cut plans pull British pound to 4 decade lows

British Pound Kwasi Kwarteng

Copyright 2022 The Associated Press. All rights reserved

The British pound has resumed a slide against the U.S. dollar that picked up pace last week after the U.K.’s new government outlined plans to cut taxes and boost spending.

The pound dipped as low as $1.0349 per U.S. dollar early Monday but then rebounded to $1.0671, down 2.3%.

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