Here is my latest update of the British pound to euro exchange rate, covering the 4th to 11th May 2012. This is intended as a brief guide to what’s affected the exchange rate this past week as well as what might happen next, to help you decide if now’s the best time for you to change currencies. Pound to euro: +1.609% weekly increase 1.2504 (1.2306 a week ago) +2.094 monthly increase 1.2505 (1.2129 a month ago) This week: 1. The pound hit its highest rate against the euro since 2008, as well as breaking the hugely symbolic 1.25 point, as Spain’s nationalisation of Bankia as well as electoral chaos in Greece pull the euro down. 2. The Bank of England didn’t announce a fourth … [Read more...] about Pound to euro hits 1.25 as Spain nationalises Bankia
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Pound looks to consolidate gains against euro
Here is my latest update of the British pound to euro exchange rate, covering the 13th to 20th April 2012. This is intended as a brief guide to what’s affected the exchange rate this past week as well as what might happen next, to help you decide if now is the best time for you to change currencies. Pound to euro: +0.96% weekly increase 1.2223 (1.2107 a week ago) +2.91% monthly increase 1.2223 (1.1878 a month ago) This week: 1. UK unemployment falls. The pound has climbed to 1.22 against the euro this week (its highest rate since August 2010) as UK unemployment registers a surprise decline. Sterling also took ground from most other major currencies. 2. Spanish bond auctions … [Read more...] about Pound looks to consolidate gains against euro
Pound gains as Spain teeters on the brink
This is my latest update of the British pound to euro exchange rate, covering the 6th to 13th April 2012 period. This is intended as a brief guide to what’s affected the exchange rate in the last week, to help you decide if now is the best time for you to change currencies. I wouldn’t blame Spanish Prime Minister Mariano Rajoy for feeling a little disgruntled right now. Like a good student, he has listened to the teachings of his EU professors and announced spending cuts of some €28 billion, not to mention €10 billion more in so-called efficiency savings in health and education. Has this restored market confidence in Spain? Not an inch. In fact, since announcing these measures, banded … [Read more...] about Pound gains as Spain teeters on the brink
Pound slips on surprise UK GDP downturn
UK sterling has given up almost a cent against the euro this week, as the ONS (Office for National Statistics) tells us Britain contracted -0.1% more than previously thought in Q4, to a total –0.3%. Obviously enough, this has stoked concerns the UK might re-enter recession in 2012, and in fact the OECD (those cheery fellows!) have already made this prediction. Bright side for Britain Fortunately, on the flip-side there are plenty of economists who accuse the OECD of doom-mongering here, and indeed UK performance in 2012 has been pretty solid so far. Both the manufacturing and services sectors expanded these past 3 months, while exports also enjoyed a solid increase. This suggests the UK … [Read more...] about Pound slips on surprise UK GDP downturn
Pound to euro stable as central banks hold rates
The situation in Greece especially has topped the headlines this past week, and had the potential to send the euro into meltdown had it not turned out so well. The Greek government conducted a debt swap, aimed at getting bondholders holding more than €200bn in Greek bonds to change their bonds for ones worth 75% less. Had they refused, Greece would have been refused its €130bn EU bailout and been forced to default, prompting the much-feared contagion across Europe. In the event though, Greece’s creditors decided that triggering a financial apocalypse was not perhaps in their best interests, and more than 95% accepted the deal. Cue much jubilation among Greek and European Union public … [Read more...] about Pound to euro stable as central banks hold rates