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5/17, 10:51 AM (Source: TeleTrader)
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Sterling tests four-month low against dollar

The pound weakened slightly on Friday but the slip took it to levels unseen in several months. The latest selling pressure was prompted by rumors in the British media that the Labor Party has abandoned talks with the government about a joint bill on the withdrawal from the European Union.

The country's currency decreased by 0.19% at 10:50 am CET, selling for $1.2775, the weakest mark since February 14 and just a fraction of a penny from the lowest point since January 15. The euro advanced 0.13% to £0.8745. Earlier it touched £0.87505, matching yesterday's three-month record high.

Sterling fell 0.39% to ¥140.03 for the first time since January 17 and 0.22% to 1.28963 Swiss francs. Today it touched 1.2889 Swiss francs, its lowest rate since February 15.

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