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Pound-Euro 2016

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Jimbo:
Theresa May's comment yesterday that there were no plans to stay in the Single Market resulted in a steep drop in the pound. Base rate this morning is 1.155 and TravelFX cash at 1.1405

The euro is strengthening at the same time as the unemployment rate drops to levels not seen since June 2009.

Duh!

Tredegar Boy:


Your ten euro meal will cost £8.65. Before the referendum announcement it would have cost about £7.20
[/quote]

Wow. That's a whole £1.45 etc per person per meal. Over 2 weeks and assuming you eat out for every meal and spend the equivalent of 10 euros each time that's a whopping £121.80 extra. What's a man to do?

I know I'll forgo two family meals out over the next 6 months to pay for it.

That's a relief. You had me worried there for a while Jimbo.

Jimbo:
Well - it just got worse. TravelFX now 1.1355

Your ten euro meal just went up to £8.80. We probably, with wine, average about 30 euros for an evening meal. So at today's rate that's £26.42. Then add lunch and some drinks...

It might seem insignificant over small costs, like a beer, but the fact is that £1000 would have bought significantly more 14 months ago.

Jimbo:
And further down - Interbank 1.1430 - TravelFX 1.1275 - ten euro meal now £8.87

IMX newsletters says:

--- Quote ---Theresa May's comments at the weekend have proven to weigh heavily on the pound as yesterday alone it fell 250 pips against the euro with similar movements against most of its 19 major counterparts. The markets expect to see a lot of volatility over the next 3 months in the run up to Brexit Negotiations.
--- End quote ---

Kernowfox:

The Brexit "share a sunbed" scheme is being launched shortly.
NHS England will be promoting via the unusually non Granny State sound bite "eat less and exercise more and you will lose weight"
Nice are considering new guidelines encouraging Metaxa 3 star or local plum brandy currently used as a toilet disinfectant (not bad with a splash of Goat's milk)

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