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According to Reuters, the single currency was up by 0.2 per cent at 85.18 pence partly due to rumours aid may be coming to Ireland's rescue.
The news provider pointed out the pound could be influenced by any European Union/International Monetary Fund package created for Ireland.
Christian Lawrence, currency strategist at RBC, said there is not much important data around today in terms of the UK tender.
He added: "This is not about sterling. It will all be about the euro and we could see some sharp moves which maybe fade as we head into the weekend."
What's more, sterling moved up 0.2 per cent against the dollar at $1.6084, which comes after it experiencing rises yesterday following strong UK retail sales figures.
Sales rose by 0.5 per cent in October, above a forecast of 0.4 per cent.
Posted by Greg Secker
