Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Pound down again
- This topic has 12 replies, 10 voices, and was last updated 9 years, 10 months ago by
rt21.
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AuthorPosts
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March 24, 2011 at 3:02 pm #56162
Anonymous
ParticipantI 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?
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March 24, 2011 at 5:08 pm #103564
Anonymous
ParticipantBudget forecasts lower growth = higher PSBR/GDP = more QE2= more inflation = weaker Pound 😉
That’s my stab at it.
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March 24, 2011 at 5:14 pm #103565
Anonymous
ParticipantIt’s just hit 88p to one Euro.
The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.
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March 24, 2011 at 9:12 pm #103568
Anonymous
Participant@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?
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March 24, 2011 at 9:36 pm #103569
adiep
ParticipantInterest rates. The ECB are promising rate rises, Euribor is heading north. The money will follow it.
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March 24, 2011 at 10:06 pm #103571
petej
Participant@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!
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March 24, 2011 at 10:18 pm #103572
Anonymous
ParticipantI 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.
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March 24, 2011 at 10:39 pm #103574
Anonymous
ParticipantI’ve met quite a few Swiss in Denia and the number appears to be increasing.
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March 24, 2011 at 10:54 pm #103575
katy
Blocked@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.
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March 24, 2011 at 11:10 pm #103577
Anonymous
Participant@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.
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March 25, 2011 at 8:18 pm #103595
Anonymous
ParticipantIf 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.
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March 26, 2011 at 7:48 pm #103604
Anonymous
ParticipantWhats, a million pound in love & war !!!!!!!!!!
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March 27, 2011 at 7:28 am #103606
rt21
Participant@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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