U.K. Pound Falls Against Euro, Dollar After U.S. Payrolls Drop

April 4 (Bloomberg) -- The pound fell against the euro and the dollar after a government report showed the U.S. shed jobs for a third month in March, fueling concern a recession in the world's largest economy will damp U.K. growth.

The pound dropped versus 14 of the 16 most-traded currencies tracked by Bloomberg today after the U.S. Labor Department said payrolls shrank a more-than-expected 80,000. The report prompted traders to add to bets the Bank of England will cut interest rates to shore up the economy. Policy makers are forecast to lower the main rate a quarter-point at their meeting next week.



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