Sterling was set for a record 10th week of consecutive losses against the euro as weak UK data and the growing possibility of British interest rate cuts in the event of a chaotic Brexit kept investors sidelined.

Sterling was set for a record 10th week of consecutive losses against the euro as weak UK data and the growing possibility of British interest rate cuts in the event of a chaotic Brexit kept investors sidelined.

A surge in the value of sterling against the euro on increased speculation that a UK rate hike is looming has for the time being eased fears about the fallout of Brexit boosting cross-border shopping and disrupting the economy.