* Pound climbs on safe haven flows from euro zone * Test of 2012 euro/sterling low of 82.22 pence in sight * UK trade data due 0930 GMT By Nia Williams LONDON, April 12 (Reuters) - Sterling hovered within sight of a 19-month peak against a basket of currencies on Thursday, benefiting from its status as a relatively safe haven as investors concerned about the euro zone's debt problems shunned the common currency. The pound could come under some pressure from UK trade data for February at 0830 GMT, forecast to show a deepening trade deficit that many analysts said would stem from lacklustre demand from the euro zone. An Italian debt auction of up to 5 billion euros worth of government bonds was expected to have a greater impact on the direction of euro/sterling, with poor demand at the auction likely to weigh on the common currency. The euro fell 0.1 percent versus sterling to 82.27 pence, its lowest level since Jan. 9. Strong support was seen around the 2012 low of 82.22 pence. Trade-weighted sterling was last at 82.3, according to Bank of England data, its highest level since February 2011. A rise above that level would push sterling to its highest against a basket of currencies since the previous August. "The Italy auction will be quite key, a weak auction will not help the euro," said Steven Saywell, head of FX strategy at BNP Paribas. Rising Spanish bond yields have pushed worries about the euro zone debt crisis back into the spotlight, prompting investors to switch to sterling which is still considered relatively safe in comparison to the common currency. Still, some investors are concerned the prospect of a long drawn out crisis of growth and debt in Europe will have knock on effects for the British economy. "Europe is a focus for Britain. Around 50 percent of the UK's exports to into the euro zone and it is not growing," Saywell said. Many market players, however, see the pound as a better investment than traditional safe haven the Swiss franc after the Swiss National Bank reiterated its pledge to enforce a floor of 1.20 francs in euro/Swiss, following a brief breach last week. "The bias still looks to be towards sterling strength as the best proxy AAA safe haven given that the Swiss franc upside is so limited and the 82.20 pence January low for the year in EURGBP does seem likely to be broken before too long," Lloyds analysts said in a note. Sterling rose 0.1 percent against the dollar to $1.5913, with supportive bids from UK exporters cited around $1.5870-80. Traders cited topside automated stop loss buy orders around $1.5960-70. (Editing by Patrick Graham)

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