There is very real concern that the upcoming Cheltenham Festival could yet be in danger of not going ahead as scheduled.

Further large gains for sterling are unlikely after the currency rallied on a poll showing Boris Johnson securing a large majority in the UK election on December 12, a leading economics consultancy has said.

Bookies say more than £40m (€51.9m) has been gambled on the outcome of the EU referendum — making it the biggest political betting event in British history.