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Sterling dropped below $1.29 on Monday

Sterling dropped below $1.29 on Monday after data showed the British economy last year grew at its weakest since 2012 and Brexit is worried about hurting investments.

The pound dropped to $1.2895, down 0.3% on the day, after trading at $1.2923 before the data was released.

Sterling also extended its drop versus the euro to 87.72 pence per euro, down 0.3%.

British stock and government bond prices were little changed after the data.

 

Source: Reuters