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UK Political Turmoil Keeps Pound Under Downside Pressure

  • Sterling is back below $1.20 level against the dollar
  • Nomura strategist Rochester says ‘the risk is we go lower’
Members of the media report from outside 10 Downing Street, the day after the resignation of two of the most senior members of government, in London, UK, on July 6.

Members of the media report from outside 10 Downing Street, the day after the resignation of two of the most senior members of government, in London, UK, on July 6.

Photographer: Chris J. Ratcliffe/Bloomberg
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The pound’s double-digit slump against the dollar this year may not be over yet amid pressure on the currency from a mix of domestic and global concerns.