Pound has risen against the euro today.
The sterling currency now converts to €1.1349.
This is a marginal rise from €1.1341 this time yesterday.
It continues the trend of upwards movement that has lasted all week.
However, it is not all good news for the UK markets.
The highest share of UK retailers since 2009 have seen falling sales.
This comes from the latest monthly report from the British Retail Consortium (BRC).
In-store sales of non-food items fell to the lowest in at least five years, with a 2.9 per cent drop over the last three months to October.
“It was a meagre month in October for retail sales,” said Helen Dickinson, chief executive of the BRC.
“Consumers appear to have opted for outdoor experiences and excursions during half term, over visits to the shops.”
Food sales did increase 3.7 per cent overall, ahead of inflation.
But at the same time 20 per cent of shoppers said they were committed to saving money on their food shop in the next 12 months.
Sterling’s gradual rise against the euro comes after the Bank of England announced an interest rate rise last week.
The rate was raised from 0.25 per cent to 0.5 per cent, the rate it previously was before the Brexit referendum decision.
It put an end to the “emergency” interest rate implemented by BoE after the Brexit decision to avoid a financial crash.
The higher interest rate reflects the UK’s growing economic confidence.
This is mirrored by Sterling’s increasing value against the euro.
