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Sterling was up by 0.3 per cent versus its US counterpart at $1.5461, close to a three-month low of $1.5356 it struck on Tuesday, Reuters reports.
According to the news provider, persistent demand from Asia was one reason for the pound's increase, but it still remained close to its low from earlier in the week due to a fragile outlook for the UK economy.
A trader at a UK bank stated: "We've seen Far-East accounts buying cable all morning ... it just dipped ten pips and they came in again."
What's more, a lot of European centres are closed already for Christmas so trading conditions were thin on the ground.
This comes after the pound stood at $1.5400 around 14:15 GMT yesterday, just above its 200-day moving average of $1.5390 due to a downward revision of UK growth.
Posted by Greg Secker
