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May's spokesman says level of #Sterling is for markets to determine

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The level of sterling, which has tumbled to near 13-month lows over Brexit fears and the dollar strength, is for financial markets to determine, British Prime Minister Theresa May’s spokesman said on Monday (13 July), writes Kylie MacLellan.

Sterling lost 2% of its value last week because of growing unease among investors over the chances of Britain leaving the European Union without a deal. It continued to languish near 13-month lows on Monday.

When asked if May had a view on the currency’s fall, her spokesman said: “Those matters are for the financial markets to determine. It is not something we would comment on.”

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