Sterling drops against Euro on new Brexit fears

Sterling has had its longest losing streak against the euro since August amid evidence that the UK’s decision to leave the EU is starting to hit economic data just as European policymakers strike a more positive note on the eurozone’s prospects.

Sterling depreciated for a sixth day against the euro, and was headed for a second week of declines against the dollar.

Surveys yesterday showed UK manufacturing, industrial and construction output all shrank in January from the previous month, adding to evidence that the trend of robust data following the Brexit vote may be coming to an end.