Katy, hence my earlier posting 2417. The days of £= €1.70 were there because € was a new currency floated on a massive scale and without going into the two track economiesi.e. north & south of EU. The market built in a risk factor to it. As the situation stabalised the spread narrowed.
Without boring the readers in a few sentances. € is a safe currency due to the state of the $ & our economy is lying horizontal, low interest rates is providing a prolong kiss of live.
I do not expect any movement in our favour until the above changes. I have seen that today currency, gold & oil market moved today on the news of the death of Bin Laden. It just shows how much they are clutching to news no matter how irrelevent it is.