Pound-Euro 2016

[Jimbo]

It has a lot to do with Brexit. IMX reports that uncertainty about the negotiations is deterring the money markets from buying sterling.

See the FT: https://www.ft.com/content/f579e648-87e1-11e7-8bb1-5ba57d47eff7

   Hans Redeker, global head of forex strategy at Morgan Stanley, forecasts euro-sterling parity by the end of this year, with a further rise to £1.02 per euro in the first quarter of next year.

He blamed much of the sterling depreciation on the uncertainty around Brexit, saying the economic environment “looks increasingly fragile” as “investment spending is softening and export strength is underperforming”.

[Dupnica]

 Before we went on holiday in June we were full of good intentions that we would save a few euros by having some lunches on the terrace of our apartment,needless to say this didn't happen,and I don't expect it will happen again when we go in September. It costs nearly as much to buy food at the supermarket as it does to eat out so what's the point,well that's what I tell myself anyway,and if you spend the rest of the year planning and preparing meals who wants to do it on holiday?

[Jimbo]

Greek baked beans are very nice and cheap! In July, staying in a beautiful apartment up on the hillside at Tsaros, we couldn't be bothered to go all the way down to the village and face the climb back, or up to Akrotiri on two evenings. Large bottle of vino for about 3 euros last a good few days. One night, beans on toast - another scrambled eggs. Great sunset views and a blissful release from deciding where and what to eat. Short walk then down the hill to the Tsaros pool bar for a couple of drinks and a few laughs.

Meanwhile, the BBC this morning indicates the dire straits the pound is in, with appalling, below-parity, rates at many airports:
http://www.bbc.co.uk/news/business-41097401

[Tredegar Boy]

It's a crock of do-do. I blame life.

[rilo57]

Nothing wrong with that jimbo,sometimes the simple things in life are the best..

[Jimbo]

The pound went up about 1 cent against the euro. Fantastic news. If I buy £3,000's worth I get a "free" Mythos!

[thejoneses]

if mythos has gone up to 30 euros i think ill try vietnam next year !!

[Jimbo]

Whoops - slight decimal problem!

Pound went up a bit after hints from the BoE that interest rates may rises. TravelFX 1.1103

[Tredegar Boy]

1.1396 as at 11.57am today. That's the highest its been since 1st July. The markets are building in an interest rate rise as CPI is now 2.9% 0.1% higher than economists predicted (do they ever get it right?!?!?).

[Jimbo]

Quite right. Wish we could make use of it, but had to cancel our departure this Friday. Boo!

[Karen]

Quite right. Wish we could make use of it, but had to cancel our departure this Friday. Boo!

Hope you're both okay. Karen xx

[Jimbo]

I had a stroke. Fortunately got to A&E in time, and been out of hospital for a week today. But not allowed to fly for a month, alas.

[Tredegar Boy]

Good grief Jimbo. Best wishes in your recovery.

[Dupnica]

What bad luck Jim you must be very disappointed to miss your holiday. I hope you get better very soon.

[Rod]

I had a stroke. Fortunately got to A&E in time, and been out of hospital for a week today. But not allowed to fly for a month, alas.

Get well soon Jimbo.  San Stef needs you!