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I don’t understand why as the Euro isn’t exactly shining against most other currencies but I see the pound is slipping again. Down to €1.14/£0.87 today.
I haven’t seen any press comment. Can anyone explain what is happening here?
Budget forecasts lower growth = higher PSBR/GDP = more QE2= more inflation = weaker Pound 😉
That’s my stab at it.
It’s just hit 88p to one Euro.
The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.
@charlie wrote:
It’s just hit 88p to one Euro.
The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.
Only sort of. It’s down 11% in a year against the CHF, 20% in 3 years.
Which makes me wonder, why aren’t the Swiss buying up Spanish property?
Interest rates. The ECB are promising rate rises, Euribor is heading north. The money will follow it.
@mark wrote:
Which makes me wonder, why aren’t the Swiss buying up Spanish property?
Funny you should say that, I have noticed a good number of Swiss registered cars in and around the Moraira and Javea areas!
I would love to be the fly on the wall when the Swiss are viewing the properties & comparing the quality of construction in Spain in comparison to Switzerland. Could this one of the reason or perhaps they have funds of protaganist like Roca with them & knows a thing or two about Spain.
I’ve met quite a few Swiss in Denia and the number appears to be increasing.
@mark wrote:
@charlie wrote:
It’s just hit 88p to one Euro.
The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.
Only sort of. It’s down 11% in a year against the CHF, 20% in 3 years.
Which makes me wonder, why aren’t the Swiss buying up Spanish property?
Maybe because there is a big world out there, Spain is not the sort of place that appeals to the majority of Swiss. Having lived in Geneva I can see why they wouldn’t. The Swiss are a canny lot anyway and they like perfection and super cleanliness.
@I wrote:
The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.
@mark wrote:
Only sort of. It’s down 11% in a year against the CHF, 20% in 3 years.
I wasn’t being very clear, was meaning it’s been holding well during the last few months since the Irish bailout (end November), murmurings of Greece defaulting and now Portugal’s likely bailout. I would’ve thought sentiment would have deserted the Euro for the traditional safety of the Swissy but during these four months the only difference is a drop from 1.32 (end Nov) to currently just under 1.29.
If you switch on Sky News and watch the fireworks display in Libya, you’ll know why the pound is falling. Those fireworks are expensive, something like a million pounds a bomb.
Whats, a million pound in love & war !!!!!!!!!!
@Rocker wrote:
If you switch on Sky News and watch the fireworks display in Libya, you’ll know why the pound is falling. Those fireworks are expensive, something like a million pounds a bomb.
I would have thought the biggest factor affecting the appreciation of the euro against the pound was the bullish statements coming from the ECB about a rise in interest rates.
Richard
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