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During early European on Monday, the pound plummeted against its major counterparts as traders increased bets that the Bank of England will cut interest rates further to revive the British economy. At about 6:00 am ET, the pound traded at a new multi-year low of 132.11 against the yen, 13-day low of 1.4702 against the dollar and a 4-day low of 0.9520 against the euro and 1.6131 against the franc.
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