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Sterling falls versus dollar on concerns over the economy

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Reuters UK

By Stefano Rebaudo (Reuters) – Sterling fell against a strengthening dollar as an unfavourable macroeconomic backdrop overshadowed concerns about politics after Prime Minister Boris Johnson announced his resignation. The pound rose on Thursday after media reports of his imminent resignation earlier in the day and held on to the gains after Johnson said he was quitting. Some analysts said they expected a rally as some political uncertainty came off the table. Johnson announced he would stay on until his successor was chosen. The Financial Times, citing lawmakers with knowledge of the plans, sai…

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