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Place strawberries in container of an electric blender or food processor; process until smooth. Pour through a wire-mesh strainer; press strawberries with back of a spoon against the sides of the strainer to squeeze out juice. Discard seeds. Combine strawberry juice, peach nectar, and next 2 ingredients in a saucepan. Add peaches; cook over medium-low heat, stirring constantly, until thickened. Serve warm or at room temperature with pound cake. Yield: 1 1/2 cups.
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