Tuesday 26 February 2019

Pound rises

Sterling apparently rose to a two year high following the Labour party support for a new referendum if necessary. At around 1.13 euros to the pound this morning it is better than the 1.10 on offer recently. The rise is said to be the result of the possibility of a "no deal" receding, calming the currency markets.
The uncertainty caused by the Brexit debate over the last three years has caused the pound to plunge from around 1.35 to as low as 1.09 (typical bank or currency broker rates, not headline or tourist rates). A big factor in driving retired people back to the UK as their incomes have plunged, though selling your house is more affordable - if you can find a buyer.