Sterling rises against euro on signs British rate cut will be delayed

Sterling on track for its biggest weekly rise against the euro since early January, up 0.5%

It is anticipated that the Bank of England is likely to wait somewhat longer than the Fed and the ECB to start easing policy.

Sterling rose against a weakening euro and dollar after signs that the European Central Bank (ECB) and the US Federal Reserve are closer to cutting interest rates than the Bank of England (BoE) because inflation in Britain is staying at higher levels than elsewhere. 

The pound rose to $1.2826, after hitting its highest since August against a weakening dollar.