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Back Fundamental analysis
The pound falls in response to new data
The British pound resumed its decline
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The British pound resumed its decline after news that the UK government's borrowing in August exceeded forecasts, dealing a blow to Chancellor of the Exchequer Rachel Reeves ahead of a challenging autumn budget. Even strong retail sales data, which came in better than economists' expectations, failed to provide support.According to data released by the Office for National Statistics on Friday, the deficit amounted to 18 billion pounds sterling, well above the Office for Budget Responsibility's forecast of 12.5 billion pounds,
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