Sterling has made a positive start to the day after data indicating improving British house prices helped to spur the currency on.

News that house prices had risen for the first time in six months helped bolster the pound, although investors are now awaiting further details on inflation with the publication of the UK consumer price index.

The euro stood at 1.4610 to the pound, while the dollar was at 1.7576 to sterling.

Meanwhile, in the UK investors await a number of reports this week with implications for the strength of the economy.

On Thursday supermarket chain Morrison will announce its interim results ahead of a full round-up of the monthly supermarket data from TNS, while drinks firm Diageo will post results on Tuesday.

Economic indicators in the shape of the BRC's retail sales monitor and Rightmove's latest house price survey are also out this week.