STERLING TAKING A POUNDING

IT LOOKS LIKE STERLING IS ON A DOWNWARD TREND THIS YEAR IF ANYTHING

IS TO GO BY WHAT I READ IN THE FINANCIAL SECTOR..THEY SAY IT HAS TO DO

WITH THE ONGOING PROBLEMS IN THE EUROZONE. IT IS TRUE TO SAY IT HELPS

UK EXPORTS BUT IS DEFINITELY BAD NEWS IF YOU ARE AN EXPAT AND HAVE A

STERLING ACCOUNT IN SPAIN WHICH DEPLETES DAY BY DAY.THIS WOULD NOT

HAPPEN IF THE UK HAD EMBRACED THE EURO.I KNOW THERE WOULD HAVE BEEN

OTHER PROBLEMS LIKE TRADE ETC.BUT WE WOULDN' T HAVE TO WORRY ABOUT

CURRENCY VOLATILITY.REMEMBER THE HEADY DAYS OF 1.5 TO 1.6 EUROS TO THE

POUND. TODAY THOMAS COOK WAS GIVING THE BEST RATE OF ONLY 1.17 FOR £1000

EXCHANGED AND LESS FOR SMALLER SUMS. NEEDLESS TO SAY IT ADDS TO THE COST

OF LIVING ON TOP OF INFLATION.

ANY VIEWS ON THAT?

It was sitting at a steady 1.23, 1.24 for quite a while and did reach a high of 1.27. This wanting to leave europe will have panicked the markets even more with so many foreign companies with bases here like Nissan etc.

same every year at this time of year

by august it will be back up where it was the same time last year

Average over past 5 years is 1.18.    (with a high of 1.34 Jan 2008 1.34, low 1.03).

So now, its about the same as it has been over past five years.

(http://www.oanda.com/currency/historical-rates/)