Spending Review 2010: Coalition is "gambling" that private sector will step up to the plate

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The pound rose to around $1.5743 after Chancellor George Osborne unveiled controversial budget cuts, ending the speech at $1.5728. It fell slightly against the Euro, to €1.1355.

Sterling had fallen to a near-four month low against the Dollar earlier today after Bank of England meeting minutes showed one Monetary Policy Committee (MPC) member had voted for further quantitative easing.

The global foreign exchange specialist said high public borrowing figures had also put the pound "on the

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