Over the last several months, we have seen the British Pound fall in value against the Euro. Is their any reason to think this trend will continue - reverse itself - or just hold steady round its present rate. Regards Jubilee
Sterling isn't just weak against the Euro, it's weak against pretty well every major currency, except the US Dollar and other currencies pegged to it.
Thankfully it's slide seems to have halted at around € 1.25 - its been there or thereabouts for a couple of months now. Whether it falls further will depend on how the UK economy is perceived to be performing through the current slowdown, and interest rates here, in comparison with the Eurozone.
It's my bet it won't go a lot lower - for the sake of the business for which I work, where we buy virtually all our product from Europe I hope I'm right!
It's a shame we didn't join up when we had the chance as suppliers in the Eurozone, when we ask them for assistance with prices simply retort that "it's not our fault you didn't adopt the Euro"!
I am on the fence on this. On the one hand, when I need to buy airline tickets, my price in € is a lot less than it used to be. But, on the other hand, the rental car price goes up because I'm billed in £. Ditto for the hotels.
ecb keeps interest rates at 4pc and the euro will hold 'as is 'for the year.. the pound is/was overvalued.. in old money 1gbp is at BEF 50/dm 2.50 ..which is what it was at the end of 79 when labour fell apart and thatcher got in..
In my experience, the best way lies in having a younger brother who is a very senior pin-stripe spiv. Other than that, you're entirely at their mercy. (Unless you have a platinum account with your bank.) These b*ggers are so tight they even put all the money they have "in transit" into overnight interest bearing accounts at rates like 0.0002% for the night, so don't expect any favours on cash transfers under a couple of million pounds.