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According to Reuters, this is the reason for the pound's slight growth - up 0.15 per cent at $1.5645 - which experienced some resistance at $1.5730.
However, weak UK data also came from Rightmove, which noted that housing prices were down for a third consecutive month in September and half of the gains made in the first six months of 2010 have now been lost.
Kenneth Broux, markets strategist at Lloyds TSB Financial Markets, said it is a surprise that sterling continues to hold up in spite of this information.
"But then its strong correlation with risk is giving it all the support," he added.
This news comes after sterling increased by 0.1 per cent at $1.5628 on Friday afternoon, cutting gains from a previous five-week high.
Posted by Greg Secker
