Sterling’s steep fall against euro erodes gains for Irish firms

Sterling weakened for a second day against the euro, eroding further the gains for Irish firms exporting into Britain, as data showed the UK’s current-account deficit widened in the fourth quarter more than economists forecast to the most on record as a percentage of the country’s GDP.

The UK currency slid against 15 of its 16 major peers. It was little changed against the dollar as a separate report showed the UK economy grew more than previously estimated at the end of 2015.

On a trade-weighted basis, the UK currency headed for its worst quarter since 2009 amid concern that if Britain votes to exit the EU on June 23, it would hurt economic growth.