| Sterling dropped versus the dollar on Monday, tracking losses in the euro against the safe-haven U.S. currency as deep-seated concerns about the euro zone's huge debt problems outweighed investor optimism over a new Italian government.
The pound fell more than 1 percent to hit a session low of $1.5891, triggering stops cited below trendline support around $1.5920. Traders cited sterling selling by macro funds and Eastern European names as investors booked profits on the pound's broad gains so far this month.............................................Full Article: Source
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