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Pound Breaks Below $1.24 as Brexit Debate Intensifies: Chart

Photographer: Miles Willis/Bloomberg

The pound tumbled, paring a rally that has sent it higher for three of the past four weeks. It slumped as much as 0.7 percent to $1.2386 as the domestic debate over the form of Britain’s European Union exit intensified and after a Confederation of British Industry survey showed services companies are increasingly pessimistic about the future.