A currency trader watches computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Monday, May 21, 2018. (AP Photo/Lee Jin-man)
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The pound fell to a five-month low Monday as the dollar surged and investors prepared for data that could determine whether the Bank of England raises interest rates this year.A broad rally by the dollar and dwindling expectations that interest rates will rise have caused what had been one of the best-performing major currencies to give up all its 2018 gains.Important data on the British economy due this week, including inflation and gross domestic product, will be scrutinized by investors to gauge whether the BoE might tighten monetary policy as early as August.
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