GBP..Euro at a 12 month high

[Chaddy]

The pound sterling is at a 12 month high against the euro ( 1.1596 ).Does anyone know the reason for this sudden upsurge

[JimX]

It is Chaddy I think speculators?, it is still a long way off the time the UK voting to leave the EU.

[jeba]

, the pound was the best performer among G-10 currencies, climbing 2.5%, according to FactSet, and underlining that market expectations for the final Brexit result have moved away from the worst-case hard Brexit scenario.

source: https://www.marketwatch.com/story/dolla ... yptr=yahoo

[emgee]

The EU are afraid that UK with all its wealth, IS going to leave them and that they (EU) are going to suffer accordingly. Hence the weaking in the value of the Euro.



Alan

[Jimgward]

I wouldn’t bet money on a return. It is only A couple of percent albeit in the right direction.
I don’t think we will see >1.20 until brexit is fully settled with a deal. Hard brexit will see <1 in my uneducated opinion

[Kili01]

Also I have it from a source in the financial world stn Cyprus that the euro is also weakening because the economies in both France and Germany are not performing well and both Italy and Greece’s finances are in a perilous state. By contrast the UK’s economy is performing better than expected. Another reason to try to avoid a hard brexit.

Dee

[smudger]

I do think the reason the EU have played such a hardball game in the negotiations is twofold. Firstly they don't want any other nations following the UK and leaving - which may be highly likely should the UK ever manage to achieve it!
But, they are also losing a major contributor to the EU budget. Major problem for them and their future budgets.

Slight contributors to the rate rise, along with a degree of confidence in UK.com given recent employment, production and budget reductions/achievements. Uk.com is riding pretty high at the moment!

[jeba]

. Uk.com is riding pretty high at the moment!

Unfortunately, that´s not my impression when I look at that part of my nest egg I invested in property funds investing in the UK as I don´t trust the Euro´s future. Seems I backed the wrong horse.

[smudger]

Mebbe, mebbe. It's a waiting game at the moment I feel. If and/or when a deal is finally agreed I think rates will possibly be sky high. Who knows???

[zorbathejock]

Not sure it is todo with the Euro weakening as the Pound is up against other world currencies.