Annetje

What's going on with the Sterling ? Expecting a large amount coming in from the UK, I think I might lose out quiet a bit here !!!

anonimouse

I think its Japan and Gaddafi to Blame, FTSE was just getting better and it lost a years gain overnight, sickening

EsuriJohn

Interbank rate dropped from 1.20 to 1.14 in two weeks starting with the earthquake and then faster with Libya don't know where it goes next.

betris

well if like me you have no money.you have nothing to worry about.

paul nd steph

+ 1 on that

anonimouse

Yeah, your lucky ya skint lol

jojojojojo

its down to 1.13 this morning! Apart from everything else, Japan, Lybia, the budget..... It might have something to do with Portugal, altho I'd have thought that would have made it go up!??

I've been waiting for it to go up for the last couple of weeks cos I'm sitting on some money to tranfer - so far, its just spiralling downwards!! I shoulda changed it when I first got it, it was 1.16 then!

Jo xxx

EsuriJohn

Down again this morning 1.13 interbank sods law pension change day! Damm!!

I thought Portugal defaulting was supposed to help Stirling seems nothing does, any alarm and it goes down suppose it helps exports but don't take a Eurpean holiday this year.

Annetje

Won't help selling my house in France to Brits neither !!!
And got 5 months pension coming in ....

anonimouse

FTSE has recovered quite a bit 5,900.76 today

jojojojojo

Hasnt made any difference to the pound/euro

Jo xxx

EsuriJohn

Its usually the reverse the pound goes down the Footsie goes up and vic versa.

Jon-Bxl

It could have something to do with the fact that Alistair Darling last year agreed that the UK would be supporting/investing in the recovery funds (Osborne was against it when in opposition as we aren't in the Euro currency). The UK has austerity measures and now add high costs in Libya as one of the 'worlds policemen' and fears of long term involvement and cost in reconstruction.

Then add Portugal that is likely to need a bailout now that Socrates has gone and lost the vote on his austerity plans... and the fact that the UK will have to contribute (a total of 9billion for the EU next year, I think)... and the exchange rate goes down

Also consumer confidence is very low as people are scared to buy.

Finally as we found out in the budget UK growth projections has had to be downgraded.

No expert on all this but I think this could be parts of the argument or 'tea leaves' of the sterlings woes......- as confidence in sterling wanes.

Annetje

They should have joined the euro at the beginning ! The least, that would have made our lives a bit easier ! Also, the Sterling has done nothing but gone down since the Euro was official. But NO, we are British, we live on an island and we insist on keeping our own little coins !!!

jojojojojo

I hate to think of the mess Britain would be in now if they had have gone for the Euro!

Jo xxx