Pound does poorly vs euro as Brexit gains ground

London

THE pound is heading for its biggest weekly drop against the euro in a year as investors are shaken in their view that Britain will vote to stay in the European Union.

Sterling's appreciation in the last three weeks of May halted as recent polls swung in favour of the "Leave" camp, in contrast to earlier ones where pro-EU voters held a lead. The pound pared its weekly losses against the dollar on Friday after the US reported that employers in May added the fewest workers in almost six years. It was still set for its first weekly loss since May 6 versus the greenback.