The British pound further eased against the euro and hovered at one-and-a-half month lows on Monday following its biggest weekly loss in over two years versus the shared currency, though it steadied against the U.

The Great British Pound has outperformed other leading currencies in February amid positive economic data. The currency rallied by 1.8% against the U.S. dollar this month, making February its best-performing month since September of last year.

Sterling rose against the dollar on Tuesday as fears of a U.S. recession drove traders away from the greenback, though the British currency was set for its seventh straight day of losses against the resurgent euro.