Encouraging currency update
The exchange rate between the pound and the euro broke through the 1.15 level last week for the first time in nearly a year.
Since the end of May 2017, the rate has been remarkably steady around the 1.10 - 1.15 level.
It remains to be seen whether this is the start of a new trend or not.
Assigning reasons retrospectively to moves is always a matter of conjecture, but it is likely that this move is less to do with the
pound's strength and more to do with euro weakness.
This may be to do with President Trump's threat of a trade war (which would hit German-made car exports) and it may be a
more general cooling off in the relative value of the euro in anticipation of ECB tapering its Quantitative Easing activities.
Either way, it is encouraging for British buyers looking to buy a new home in Euroland.
Image source: XE Currency