By Tom Higham

The Pound started the day losing ground following news from Ernst & Yound Item club who stated that it is still to early to be talking about a recovery in the UK economy. The company stated that the UK would struggle to grow this year but would push towards 1% growth next year although they felt that any growth would be slow.

As a result the Pound fell this morning from the highs we witnessed last week. However, positive news from Right Move showing UK house prices improving steadily has led to some Sterling strength this afternoon as we head back towards the close of business levels seen on Friday.