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Forex traders may be interested to note the single currency stood at 84.92 pence, moving above its 100-day moving average of 84.85 pence, Reuters reports.
What's more, it also moved towards its 200-day moving average of 85.09 pence.
The weakness for the pound came after UK figures revealed a record high public borrowing in November, which could be problematic in terms of the government hitting its deficit-cutting target.
Marc Ostwald, strategist at Monument Securities, said: "The depressing part of this report is that it shows an all round deterioration ... perhaps some scepticism whether the (government's austerity) plan will be achieved as it has been set out is now warranted."
This comes after sterling increased against the single currency yesterday, as the latter dropped by 0.3 per cent at 84.60 pence due to debt concerns, the news provider reported.
Posted by Clive Arneil
