The pound has climbed to its strongest level against the euro since the start of the pandemic. Sterling hit €1.1995 this morning, the highest since February 2020, despite this morning’s encouraging fall in eurozone unemployment.
The pound has rallied in the last month, lifted by optimism that omicron will not derail the economic recovery despite the hit to hospitality in the run-up to Christmas. It means one euro is worth 83.33p, as this chart from interactive investor’s Victoria Scholar shows.
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But WILL interest rates rise. Don’t think governments can afford to stop printing money - they’ve painted themwleves into a corner now and there’s too much at stake, can’t afford to have huge numbers of mortgage defaults and crashing property prices.