New report suggests British economy almost stalled in July as consumers limited spending

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The pound is on course for its longest stretch of daily falls since the start of the Covid-19 pandemic amid growing speculation in the currency markets that a weakening economy will limit further increases in UK interest rates.

With a new report saying the UK economy almost stalled in July, sterling lost ground for a seventh day in a row against the US dollar – its worst run since March 2020.

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