//
According to Reuters, sterling moved up to around $1.5468, meaning it was above its 200-day moving average of $1.5405.
Forex traders might be interested to note that the news provider pointed out the gains were partly down to an unexpected rise in UK house prices.
Nationwide UK reported a 0.4 per cent hike in December, the first increase since May, in contrast to predictions there would be a 0.3 per cent decrease.
What's more, sterling steadied against the euro this morning, but still remained weak.
This comes after the pound hit a seven-week low against the single currency yesterday afternoon, dropping by one per cent.
The euro stood at 86.10 pence, having previously hit a high of 86.24 pence, which was its best rate since November 10th, while the pound was down by 0.5 per cent versus the dollar.
Posted by Greg Secker
