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Sterling Drops Below $1.23, causes jitters in Financial Markets

Sterling slid back below $1.23 on Tuesday as Brexit concerns weighed heavily on a market still in shock after Friday's 10 percent flash crash. After a steadier 24 hours, the pound slid 0.6 percent to $1.2278 in early trade in London, pushing the Bank of England's trade-weighted index to a nearly eight-year low of 74.0. It was also half a percent weaker at 90.51 pence per euro.
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