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England victory may be wiped out ... lowest level in almost two years amid fears the UK will fall into recession.
Sterling touched a 22-month low of $1.8619 in Thursday trading.
The pound dropped sharply on Wednesday after the Bank of England issued its gloomiest assessment yet of the health of the UK economy.
Recent official figures have already shown the UK is struggling with high inflation and faltering growth.
Fears about European growth have also helped the dollar bounce back from record lows.
The US economy is still reeling from the credit crisis but analysts say the deteriorating outlook elsewhere in the world has given the dollar a boost.
Falling commodity prices have also supported the US currency. Investors had bought gold and oil to protect against dollar weakness and are now unwinding their positions.
The euro was trading at $1.4883 on Thursday, slightly above the 6-month low of $1.4815 struck earlier this week. Earlier this year, the euro was trading at $1.60.
The euro has been further undermined by the military conflict in Georgia.
(BBC)
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