Sterling set for biggest daily drop in three weeks on weak survey data

LONDON (Reuters) - The pound weakened on Friday and is set for its biggest daily loss in nearly three weeks after surveys showed British business suffering its deepest downturn since mid-2016, with caution rising before a Dec. 12 general election. The first "flash" reading of the IHS Markit/CIPS UK Purchasing Managers' Indexes (PMI) for Britain showed that declines in both the services and manufacturing sectors quickened in November."UK PMIs showed a deeper contraction than anticipated in the..