The British pound is suffering from Brexit fears. (BERTRAND LANGLOIS/AFP/Getty Images)

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British Pound Falls Below Dollar Amid Brexit Fears

Experts in England are worried the economy will continue to stagnate even after Brexit is official.

The British pound sterling dropped in value below the U.S. dollar and the euro on Friday, according to official U.K. data.

The government also admitted that the British economy virtually “flatlined” in the month of September, The Independent reported.

The pound dropped nearly half a percent against the dollar to $1.3021, in part, according to British officials, because of the U.S.’s announcement that it will raise interest rates in the month of December, strengthening the dollar.

“Persistent Brexit uncertainty and the financial squeeze on consumers and businesses is likely to weigh increasingly on economic activity in the coming quarters,” British Chambers of Commerce representative Suren Thiru said.

Read the full story at The Independent