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U.K. Pound Falls Against Dollar, Euro - 2008/11/12 19:15
Hey, guys! The U.K. pound dropped against the dollar and traded near a record low versus the euro after claims for jobless benefits increased at the fastest pace in 16 years.
The decline pushed the British currency to the lowest in two weeks against the dollar. Unemployment claims rose by 36,500 last month to 980,900, the highest level since March 2001.
The pound weakened to 81.61 pence per euro by 9:42 a.m. in London, from 81.41 pence yesterday, when it reached a record low of 82.15 pence. It traded at $1.5382, from $1.5384. The pound may depreciate to 84.50 pence in the next week.
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