Strenght of the pound

Antecer · 1 Feb 2008 at 17:28

Ok so the pound has lost an incredible ammount of value in the past 6 or so months... a euro in the summer was worth .68 or thereabouts, now we're looking at .74-75. Another big drop was the drop from a pound being worth 42 czech crowns, now only worth 34...

So what's factors have caused this?

Northern rock fiasco
Govt corruption and missing laptops and documents (becoming a trend now)

What else do you think has caused it and will it pick up and go back to being half decent?

Tefal · 1 Feb 2008 at 17:29

whats the pound to dollar?

and euro to dollar

as it may be the euro has gained strength.

scorza · 1 Feb 2008 at 17:32

It's more a case of the Euro getting stronger. More and more people are buying and doing business with Euro's these days, this is being exacerbated by the incredibly weak dollar. The pound isn't doing too badly - a drop of 10 eurocents or so ain't that serious.

daz · 1 Feb 2008 at 17:35

Weak pound against the Euro makes the UK an excellent place for European eurozone companies to invest.

Posty · 1 Feb 2008 at 17:38

We import more than we export flooding the foreign exchange market with pounds, more supply= cheaper price.