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According to Reuters, sterling increased to $1.5611, having risen to the day's high of $1.5626 on demand from UK exporters.
The increase came after the UK retail sales results for October were revised higher, plus year-on-year sales figures in November were better than previously forecast.
However, Ian Stannard, senior currency strategist at BNP Paribas, played down the turnaround by noting there is not much of a drive built up.
He added: "There were some upward revisions ... and the initial reaction to the data was that sterling tried to push a little bit higher."
This comes after the pound moved up slightly against its US counterpart earlier this morning off the back of the stronger than expected retail figures, which showed a 1.1 per cent year-on-year boost in November.
Posted by Greg Secker
