During early European deals on Wednesday, the British pound pared the gains it posted in Asian trading against the currencies of US and Japan. The pound thus slumped to a new record low against the yen and a new multi-year low against the dollar on concern the U.K. recession will deepen. Against its European and Swiss counterparts, the pound remained down today and touched a 16-day low.

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Tuesday, January 20th, 2009 at 9:37 pm
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