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LONDON (MarketWatch) -- The beleaguered British pound accelerated its recent fall, plunging to its lowest level against the U.S. dollar since April 2006 after U.K. Chancellor of the Exchequer said the economic environment is the most difficult in 60 years.

The dollar rise has been about other currencies falling back to earth more than any intrinsic bullishness. Currencies trade in pairs.
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