The euro was on track for a sixth straight daily loss against sterling on Monday, its sharpest decline since mid-July, as concerns about France’s fiscal outlook continued to weigh on the single currency.
Reuters is reporting that the sterling edged up against a strong dollar, buoyed by the British government’s commitment to fiscal discipline and a more constructive approach to the European Union.
Prime Minister Andy Burnham, who campaigned to stay in the EU in a 2016 referendum on membership, has said the nation should again consider its options, including rejoining the bloc.
The euro slid to a 17-month low against the dollar as concerns about France’s ability to rein in its budget deficit stirred fears of a return of sovereign debt crisis dynamics in the euro zone.
The single currency dropped0.41per cent — the biggest decline since July 15 — to £84.60, the lowest level in almost three months.
