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Reuters reports a 0.6 per cent increase in the euro at 09:13 BST to trade at 82.14p, recovering after hitting 81.75p on Friday.
The drop in strength of sterling follows the overnight release of figures by property website Rightmove showing that asking prices for houses have fallen by 1.7 per cent.
This follows the release of data by the company last month revealing the first drop in asking prices this year, a reduction of 0.6 per cent.
Speaking to Reuters, Christian Lawrence, currency strategist at RBC Capital Markets, said the pound is "underperforming the euro a little", adding that the figures released "may have been a bit of a sterling negative".
However, fears over the financial health of countries on the euro zone periphery mean the single currency is thought to remain vulnerable.
Posted by Greg Secker
