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Devaluation of pound cools fears as Britain adjusts
One month after Britain cut the pound value to 2.40 dollars and raised lending rates, the immediate crisis eased as governments, firms, and individuals adapted. Prices rose for some goods but fell for others while market fears about the dollar persisted.
MENTIONED IN THIS ARTICLE
Jack Lefler
New York
Britain
U.S
New York Stock Exchange
Dow Jones
United States
George W. McKinney Jr
Irving Trust Co
Washington
General Motors
Ford
Chrysler
Henry Ford II