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Market Update: Sterling Little-Changed on Monday
The British pound traded at $1.415 on Monday, after hitting an over three-year high of $1.423 last week, on the prospect of a strong economic recovery helped by the ongoing re-opening efforts and the rapid pace of COVID vaccination. Britain’s economy is seen growing by 7.25% in 2021, before slowing in 2022 to return to its slow, pre-pandemic pace, according to the Bank of England. Meanwhile, the Confederation of British Industry called on the UK government to overhaul regulation and tax rules to help British employers recover from the shocks of Brexit and COVID-19. [/s2If]
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