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Sterling Plunges to 2018 Lows as Brexit Unease Builds

(Reuters) The pound suffered a heavy sell-off on Wednesday, skidding to its lowest levels against the dollar and euro in almost a year as markets ramped up bets on Britain leaving the EU without an agreement with Brussels on their future relationship. London-based traders reported a significant increase in investors hedging against a ‘no-deal’ Brexit, an event which could send sterling into freefall and hurt the economy by raising trade barriers with the UK’s biggest export market.

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