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Can anybody accurately predict where Sterling may be heading against the Euro? We have recently seen the pound fall to a 5 month low and at this point in time we are seeing the Interbank rate under 1.14. According to Currencies Direct, “This is not down to Euro strength but more to do with uncertainty relating to the UK economy. On the last vote of the Monetary Policy Committee one of the members actually voted to increase the Quantitative Easing measures (quaintly shortened to QE2), and this of course saw the pound start to tumble. Continue reading »
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Crikey – what on earth is happening to the exchange rate at the moment.
After the scary days of January when the sterling euro exchange rate fell to a record low of 1.02 and some travelers were being paid 96p for each euro purchased, we saw a steady recovery to highs of 1.18 in June this year – hardly back to the good old days of 1.47 but a move in the right direction!
And now, our hopes are dashed again. As I write, one British pound is worth a paltry 1.0801
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I´ve just been watching a feature on GMTV saying that the number of British visitors to Spain was down by 20% in January, compared to the same month last year.
Hardly surprising really, is it? Since January 2008, the world has changed for all of us, and a lot of those cheap trips to Spain for us Brits have been shelved whilst we try to balance the books and survive the credit crunch and the recession in general.
