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Pound Depreciates Vs Dollar to Lowest Level Since Aug. 16

The pound extended its decline against the dollar, dropping to a five-month low.

Sterling weakened 0.6 percent to 1.5664 at 3:57 p.m. London time, after reaching $1.5653, the lowest level since Aug. 16. It fell 0.8 percent to 86.39 pence.