Pound down again

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    • #56162
      Anonymous
      Participant

      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?

    • #103564
      Anonymous
      Participant

      Budget forecasts lower growth = higher PSBR/GDP = more QE2= more inflation = weaker Pound 😉

      That’s my stab at it.

    • #103565
      Anonymous
      Participant

      It’s just hit 88p to one Euro.

      The Euro is holding surprisingly well against the Swiss Franc which I’m more surprised about.

    • #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?

    • #103569
      adiep
      Participant

      Interest rates. The ECB are promising rate rises, Euribor is heading north. The money will follow it.

    • #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!

    • #103572
      Anonymous
      Participant

      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.

    • #103574
      Anonymous
      Participant

      I’ve met quite a few Swiss in Denia and the number appears to be increasing.

    • #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.

    • #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.

    • #103595
      Anonymous
      Participant

      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.

    • #103604
      Anonymous
      Participant

      Whats, a million pound in love & war !!!!!!!!!!

    • #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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