bobd22

The pound is down against every currency on the BBC web site under 12.5 to the euro 1.10 might look good soon the way it's going

bobd22

meant 1.125

Bri and Katee

Last November it was 1.08, today barely 1.12, looking good to be below 1.08 before 1st of November. Everyone thought that with a return to capitalist values with a conservative government things would begin to look a lot better.

Never could they have been more wrong!

bobd22

Yes I think we all hoped for that but have been proved wrong question now when will it improve. Seems hardly coincidence that it seems to go up in the summer when MP's etc are on their extended holidays!

Fred James

You really think that MPs might have some control over it!

bobd22

Put it down to coincidence then but it has been a fact that last 2 summer months euro goes down pound goes up, come his time of year pound goes down euro goes up. Suppose all the talk of more QE has nothing to do with it? my view is the pound wll be as strong as Mervin King and Osborne want it to be. Of course sometimes things get in the way i.e. Greece's calamity in spring.

olivia

I think the talk of more QE is the problem. I struggle to understand why with Spain, Portugal, Grease, Italy, Ireland and perhaps more EU countries in dire financial difficulties the Euro remains so strong against sterling! I think like our new opposition chancellor...We all need a book on economics for beginners!

bobd22

Germany

DownUnderPaddy

...because the UK economy is really in not much better shape either.
http://www.bobsguide.com/guide/news/...27_decade.html

HBG

It’s funny, when you’re clutching at straws you can sometimes find comforting news. Two years ago the pound was at parity for a time, last year it stood at 1.08 for a time, so we should be grateful with today’s 1.12.

Remembering the 1.22 only a short time ago, I don’t feel grateful. Remembering the 1.50 not all that long ago, I feel even less grateful.

I don’t gamble much, but with this lot I feel as though I’m spending my life in a casino,

bobd22

Yes I feel exactly the same especially as I am hoping to pay my mortgage of at the end of next year. Mind you one thing is for sure once I do that the pound is bound to go up.
It didn't seem too bad in the summer when it was 1.20ish but couple of words from them that matter and down it goes. Funny that Cameron when it was approaching parity liked to remind Brown of his comment when in opposition " a weak pound shows a weak government" wonder if he may be reminded of that himself. Suppose thats the consequence of keeping our £ if we get bad news it affects us directly if euro countrys get it to some extent it can be diluted. Mind no doubt it wont be long before the rest of Europe start felling the difficulty of strong currency especially likes of Ireland Spain and Grecce. Whatever it is I suppose we just have to cope with it and hope for better times ahead?

Fred James

It is worth noting that the average rate last year was 1.12 - not much change then!

jackytoo

Up a couple of cents today on good economic figures from the UK. Will it be 1.25 by the new year

Nigeljay

There is a fairly reliable inverse relationship between the stock market performance and the pound. This is because the stock market rises when risk appetite increases and conversely money leaves the US dollar. The result is a rising euro ( and often Yen) as the dollar is perceived as a haven for the risk averse and hence loses support when risk appetite is relatively high. Unfortunately when the euro rises the pound does not at the same rate and we see a deterioration of the pound/ euro exchange rate. When the sentiment is generally risk averse the dollar strengthens and the euro weakens with an improvement in the pound/euro exchange rate (that is for holders of the pound).

Today the FTSE 100 has dropped substantially and the pound has strengthened. This more often than not is the reason behind the pound/euro exchange rate rather than specific UK data and announcements. There are of course exceptions usually where unexpectedly bad UK performance data hits the pound's value.

agoreira

Well, about .87% as I write, that's not a lot, considering it's had a good run lately. So not unexpected, and hopefully it can continue it's upward climb, good for my investments.