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According to Reuters, sterling has been affected by a weak UK consumer survey as the single currency has increased to 85.53 pence, its highest level since November 22nd.
The poll revealed morale to be at its lowest "since the depths of the recession", the news provider commented.
Lee McDarby, corporate risk manager at Investec, sated the euro clearly still has some support, adding the German Ifo survey figures have helped the single currency.
He added: "We're waiting for whatever the next bad news is, but while no big bad news comes out, the euro is slowly drifting higher."
What's more, there was further negative news for the pound against the dollar as the former shed 0.7 per cent today after the Lloyds Banking Group stated it is expecting further impairments on its Irish portfolio.
Posted by Chris Weaver
