Pound Weakened Against U.S. Dollar as U.K. Economy Recover Slower than Forecast

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Source: bloomberg.com
The Pound lost against 13 of its 16 main peers as U.K. report showed worse-than-expected services growth in October. The Pound declined 0.3% and traded at $1.5977 following the loss of 0.2% on November 2. The Bank of England officials will meet on November 7-8 to take a decision whether to raise fiscal policy using quantitative easing for the first time since July, when it was increased by 50 billion pounds.

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