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Pound Sterling Off Critical List Still Weakens U.S. Economy
British pound is off the critical list but remains ailing, affecting U S financial status and world trade. A $3 billion, 11 nation bailout halted a run. despite rally, UK balance of payments deficit and excess import pounds persist. U S deficits rise with postponed Britain debt payments. UK policy actions lift short term rates, gold price climbs, stock markets jittery. authorities expect eventual recovery.
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