Sterling could fall further against euro and dollar on UK's woes  

MUFG's Derek Halpenny warns of the risk that growth will not be able to withstand many further rate hikes

The British pound fell almost 3% versus the US dollar last week, its worst performance since late September and the biggest drop among major currencies globally. Stock picture

A shift in the Bank of England’s focus from inflation to a darkening economic outlook has become the latest reason to sell sterling.

The UK currency fell almost 3% versus the US dollar last week, its worst performance since late September and the biggest drop among major currencies globally.