Pound hits highest level against euro in over a year
Category: Finance > Finance | 22nd May, 2014
Strong retail sales & an enviable economic recovery leaves the pound strong against the Euro making it a great time for Brits to consider the French chalet market. The financial crisis of 2007 saw a pound that had bought roughly 1.4 to 1.5 Euros drop to around 1.29 in 2008 and then again to as low as 1.05 Euros at its weakest at the end of Dec 2008. The pound has been generally strengthening slowly since then but with some major falls. Exactly a year ago we had 1.17 Euros for our Stirling now we're seeing rates of 1.23. This increase of around 4.8% may not seem like much but it's one of the strongest 'post-recession' rates & when spending hundreds of thousands will mean an advantage of thousands of pounds. Currencies Direct released their analysis of the pound's performance in the context of the Eurozone recovery in general. Phil McHugh, from Currencies Direct said Yesterday the pound was given another boost through very strong retail sales data exceeding expectations. The pound is now hitting its highest levels against the euro in over a year They're also recognising signs of a wider Eurozone recovery & will no doubt have more to say on this matter in June when the European Central Bank releases its report on currency policy & determines its own rates. Whilst uncertain it seems likely that the current performance of the pound against the Euro could slip in the event of a Eurozone recovery & faster inflation in the U.K economy. It's always hard to judge when the right time to strike may be but the strengthening of the pound adds to the attractiveness of buying French Alpine property at this time. This news comes as Alpine property outperforms the French average as covered in our post last week and our coverage of the changes to mortgage rates in France last month.
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