I assume this is good news for members with a UK sourced pension or income.
07:27 POUND STRENGTH
Radio 5 live -
The pound strengthened yesterday to $1.70 - the first time it has reached that rate in four years. Katie Martin, currencies and bonds editor at the Wall Street Journal, tells Wake Up to Money: “One thing that people might have to start taking quite seriously is that this could start bringing down our import bills, so this could start depressing inflation - no-one wants rampant inflation but no-one wants deflation either.”
Still hanging in against the Euro which is good as I'm considering buying an expensive toy & will need to transfer a load of dosh. Come on you POOOUUUNDS!
It is apparently on the way back down $1.675 already today. We are working on a $ to € contract at present which is bumping along a fairly flat line right now and we are waiting to give the green light for a transfer when we will get a few groats more.
It's a dollar sign Shirl. Like you I prefer the obvious number ie. how many euros do I get for my quid. My missus, who is always contrary, uses the reciprocal as if she's buying Pounds with euros. I bought my first house here in France at 1.567 euros to the Pound. Ah! Halcyon days. I can also remember, pre euro days when a Pound bought 7 Francs as against the usual 10 & a little cup of coffee cost 2 quid :-(
Don't get too excited. The pound is about to tank as I need to change some Sterling to Euros. Never fails:-)