According to Sky, the pound earlier today was worth €1.11; when I started trying to sell the apartment some years ago it was around €1.32 or so. The moment it starts to rise, one of the Nouveaux Tories or the another screws up and down it goes! I'm convinced it's an inside job where Minister A buys cheaply (as now) and when it rises again, he sells. At once, Minister B creates another scandal or crisis for him and down it goes again, allowing Minister A to buy even more little squids and get richer and richer as he repeats the cycle. I hope one day he puts it all on one throw and it goes sour.
As Harold Wilson famously remarked after devaluation; it doesn't, of course, mean that the pound in your pocket is worth any less!
Try telling that to any expat or holidaymaker with a memory. I even recall a time when the pound was worth around $2.50.
The thing is, as Europe was supposedly on the skids and Britain had a glorious, shiny new future ahead, why is the euro still doing better than the pound?
You gotta larf.
