Translating the old English character (3)
I believe the answer is:
eth
'old english character' is the definition.
(I've seen this in another clue)
'translating the' is the wordplay.
'translating' indicates an anagram.
'the' anagrammed gives 'ETH'.
(Other definitions for eth that I've seen before include "Little Ethel" , "girl" , "Old letter; the (anag.)" , "Old character" , "Ancient character" .)