July 2012 Archive

Saturday 7th July 2012

Pound at three year high and activity soars

The Pound to Euro exchange rate reached a fresh three-and a-half year high today of 1.2607 as wary investors sought to cut their exposure to the struggling currency bloc.

The Euro was already suffering from yesterday’s European Central Bank rate cut which sent the Pound a cent higher on the day, and the single currency was dealt another blow this afternoon as a disappointing US Change in Non-farm Payrolls print caused a decline in risk appetite. June’s figure of 80,000 new jobs undershot analysts’ expectations of 100,000 which gave investors cause for concern that the world’s largest economy is faltering. Subsequently the Pound was able to grow by a further half cent to reach a high not seen since November 2008 as Sterling benefitted from defensive inflows from the Eurozone.

At Girasol Homes we have never been so busy as we are this year with sales to buyers all over Europe, USA and from the United Kingdom.

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