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May's spokesman says level of sterling is for markets to determine

May's spokesman says level of sterling is for markets to determine
FILE PHOTO: An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England in London, in this March 25, 2008. REUTERS/Luke Macgregor/files   -   Copyright  Luke MacGregor(Reuters)
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LONDON (Reuters) – The level of sterling, which has tumbled to near 13-month lows over Brexit fears and the dollar strength, is for financial markets to determine, British Prime Minister Theresa May’s spokesman said on Monday.

Sterling lost 2 percent of its value last week because of growing unease among investors over the chances of Britain leaving the European Union without a deal. It continued to languish near 13-month lows on Monday.

When asked if May had a view on the currency’s fall, her spokesman said: “Those matters are for the financial markets to determine. It is not something we would comment on.”

(Reporting by Kylie MacLellan)

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