THE pound has risen slightly against sterling to trade at around 102.75p. Earlier in the day, it traded as low as 102.67p, and dealers expecting a further dip if sterling continues to climb against other currencies.

Sterling was up against all other major currencies in the wake of the release of British figures showing unemployment at its lowest level in five years. But, later in the day, concerns about today's publication of the Scott Report affected sentiment.

The markets will also be watching the fortnightly Bundesbank meeting, where a reduction in interest rates would lead to other lenders here following the National Irish Bank's lead and reducing costs to borrowers.