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The U.K. Gfk consumer confidence index fell eight points in January to -29 from -21 in December. This marks the largest decline since 1992 and the lowest reading in 22 months. All five measures of the index fell.
The survey further reduces speculation that high inflation will force the Bank of England to raise interest rates. The pound fell in the aftermath of the report and continues to be one of the day’s worst performing G10 currencies.
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