When the EU and the International Monetary Fund (and Germany) spent €110 billion to dig Greece out of its deep fiscal hole six months ago it looked for a while as though Brussels’ shock-and-awe tactic had done the job.
The pound has been looking sickly since the summer. It has done well enough against the US dollar, which has had its own generous share of trials and tribulations, but against the euro
Sterling spent the last month moving ahead against the US dollar and falling back against the euro. Against the Japanese yen it is all but unchanged. Investors seem to prefer the pound to the dollar
On 27 August the Office for National Statistics published its first revision to the performance of Britain’s gross domestic product (GDP) for the second quarter of the year. The initial estimate of 1.1% growth had looked pretty good.
During most of the first half of 2010 the cut and thrust of sterling against the euro had a political origin of one sort or another. It was also sterling that did most of the cutting and thrusting:
.According to foreign exchange and international money transfer specialist Moneycorp, prospects are poor for the British real estate market, as 25% of potential first-time buyers
If the advent of a coalition government has brought a sea of change for British politics it has also brought one for the pound.
Sterling appreciates against the euro to levels last seen in December 2008. Sterling’s appreciation against the euro continued last week
As predicted, the pound has strengthened over the last few weeks – it is now more than 10 percent higher than it was at the start of the year. Combined with low interest rates and the slower property market here in France, that means it now is a really good time to buy in France!