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Pound Drops Through 1.40 as UK Banks Sink

posted by Avatar fx360 1174 days ago in Fundamental, Daily

Cable started the week with a 200 point drop as investor worries over the state of UK banking sector pressured the Footsie and sent the currency tumbling below the 1.4000 level for the second time this month. Shares of Llyods PLC tumbled 14 percent after UK’s biggest lender ceded corporate control to the government in return for state guarantees.
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