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Pound falls on challenged Brexit plans

Mar 07 2017 13:03
Bloomberg: Anooja Debnath

London - Sterling slipped to a seven-week low versus the dollar on Tuesday ahead of the final debate on the Brexit bill in the House of Lords, where lawmakers will demand more say in the deal Prime Minister Theresa May forges with the European Union.

The pound weakened against all Group-of-10 currencies as the debate could derail May’s plans to trigger Article 50, which would mark the formal start of the exit from the EU, this month.

Sterling was also pressured by data showing the pace of annual house-price increases in the UK slowed, adding weight to predictions for waning economic momentum this year.

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