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On a buoyant day for the UK tender, the pound moved up against the single currency as the latter decreased by 0.3 per cent at 87.55 pence, Reuters reports.
This change has kept the euro under its 100-week moving average which the news provider noted is currently around 87.89 pence.
Traders may have been encouraged to trade the pound following data released earlier revealing British house prices rose three times faster than predicted, however there was negative news for the transport industry as figures showed a drop in UK car sales.
What's more, sterling firmed against the single currency when it closed yesterday and by 15:01 GMT it had experienced an increase against the euro, paring loses from Tuesday.
The latter was at a session low against the pound at 87.17 pence, down 0.3 per cent on the day.
Posted by Clive Arneil
