Sterling strength against Euro???

[Rantor]

It looks like Sterling is creeping back up to 1.28/1.29 aginst the euro despite the unremitting doom coming out of Britain.

Not saying there isn't pleanty of doom in euroland, but its not quite as grim as our doom - there are some things at which Britain still leads the world

So why is sterling drifting upwards when the consensus was/is that it is heading way down?

[Cyberman]

It looks like Sterling is creeping back up to 1.28/1.29 aginst the euro despite the unremitting doom coming out of Britain.

Not saying there isn't pleanty of doom in euroland, but its not quite as grim as our doom - there are some things at which Britain still leads the world

So why is sterling drifting upwards when the consensus was/is that it is heading way down?

.... because our interest rates are so high, and that is also one of the reasons why we are now in a recession.

[BrilloPad]

fx traders love a straight line trend.

[Bagpuss]

.... because our interest rates are so high, and that is also one of the reasons why we are now in a recession.

Yeah if only they were lower, we could have avoided all this inflation and property bubble madness.

[Cyberman]

Yeah if only they were lower, we could have avoided all this inflation and property bubble madness.

Keep 'em high. It helps the Tories.

[chef]

i'm £500 down this month compared to last because of the exchange rate

[Rantor]

fx traders love a straight line trend.

Indeed, there are loads of bank fx 'research' docs from the start of the year that seemed to predic the straight line decline followed by a wee upswing.

I just can't figure out whether there is any 'real' reason for the strength of the pound to increase now - it might just be a blip I suppose.

[Rantor]

Keep 'em high. It helps the Tories.

We have had consistently higher rates than the eurozone/Us but it didn't stop sterling from sliding.

[Rantor]

i'm £500 down this month compared to last because of the exchange rate

I'm trying to get most of my ill-gotten into euros so that we can buy somewhere when the belgos realise that proeprty is a wee bit overpriced.

I got some out early on, but whatever way I look at at, shifting big lumps of sterling into euros is gouing to hurt

[d000hg]

i'm £500 down this month compared to last because of the exchange rate

I had a cheque for ~$10K sent by post from the US... in the 3 weeks it's taken so far to clear, rates have varied between 1.7 & 1.85.