Pound hits new high against euro
Good news for UK pensioners living in France, and for those thinking of buying property
THE POUND has reached its highest against the euro in seven years.
It pushed through the 1.43 level, as the UK economy continued to grow and the euro continued to be hit by the Greek crisis.
The pound dropped from the 1.40 level in the winter of 2007 as the sub-prime mortgage crisis spread from the USA to the UK.
By December 2008 it had dropped to parity with the euro, leaving expat pensioners, reliant on an income denominated in pounds, facing financial problems.
For three years these problems persisted, as the pound hovered in the 1.1-1.18, with a brief high of 1.21.
But by July 2012 it had recovered to 1.28 before dropping again to between 1.15 and 1.20 throughout 2013.
In 2014 it saw a fairly consistent rise from 1.20 to 1.27 but since 2015 it has risen to fluctuate between 1.35 and 1.40.
The pound's all time high against the euro is 1.52 which was reached in January 2007 and in 2004.
The dollar has also been strong against the pound, and reached parity with the euro in March and hovering at this level ever since.
Photo:Flickr/William Warby
