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Exchange rates are advertised outside a Bureau de Change on Monday in London. The British pound fell against the U.S. dollar, fluctuating between $1.03 and $1.07 Monday morning. Chris J. Ratcliffe/Getty Images hide caption

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Chris J. Ratcliffe/Getty Images

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The British pound hit a record low over fears about income tax cuts and debt

The British pound sank to $1.03, before stabilizing slightly, as traders and investors react negatively to new government plans to cut taxes for highest earners and businesses and boosting borrowing.

Exchange rates are advertised outside a Bureau de Change on Monday in London. The British pound fell against the U.S. dollar, fluctuating between $1.03 and $1.07 Monday morning. Chris J. Ratcliffe/Getty Images hide caption

toggle caption
Chris J. Ratcliffe/Getty Images

The British pound hit a record low over fears about income tax cuts and debt

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