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Old November 18th, 2007, 09:36 PM posted to rec.travel.europe
El Dude
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Posts: 7
Default Pound at an all time low against the Euro

On Nov 18, 4:10 pm, "EvelynVogtGamble(Divamanque)"
wrote:
El Dude wrote:

I predict that the Euro and Pound will reach parity within the next 4
years The Pound will continue its spiral downwards till .88 cents and
at that time the UK will join the euro zone.


Really? At present the UK pound is worth half again as much
in USD as it was the last time I was in Europe ($2.00 now as
opposed to $1.55 then). I can't comment on GBP versus euro,
because I never compared them before. (My concern has
always been how much I was spending in Ameircan money, since
that's my native currency.)


In the last 5 years the $ has depreciated 30% with respect the Euro
and 23% with respect the British Pound. At the same time in those 5
years the British Pound has lost 10% of its value with respect the
Euro. It's not a short term reaction to certain market conditions but
a downward trend that is going to accelerate in the next few years and
that will eventually end the existance of the GBP.