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Cable Hits Record Low, Parity Next?

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The pound dropped to an all-time low against the US dollar today.

Markets opened the weekend after the new Chancellor proposed a tax cuts budget and further borrowing, which spooked markets and raised fears of a UK recession.

The greenback is also strengthening against other world currencies, such as the Yen.

Will we now see parity on Cable, or will a rebound save the sterling?

Timestamps
GBPUSD 01:30
EURUSD 02:50

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