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Pound Falls as Theresa May Warned Over 'Hard Brexit'

The pound has slumped after British Prime Minister Theresa May announced the first details of her Brexit plans—as colleagues warned her of the consequences of a “hard” Brexit. After May said on Sunday that she would trigger the Article 50 EU exit process in March next year, sterling fell against all but 31 of its major peers and was just 1 percent above the 31-year-low record set in July after British voters chose to leave the bloc, Bloomberg reported.
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