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The pound in your pocket

Over the last 18 months the UK currency has come under significant pressure from both the US dollar and the euro. However, while the UK economy is struggling, with many forecasting a difficult period ahead, there have been recent developments in both the European and US economies. As a consequence we have seen a bounce in the value of the pound compared to the US dollar and the euro (although to a lesser extent). So what exactly does this mean for the UK population?

As we approach the vital period of the UK holiday market this recovery, albeit from low levels, in the UK pound against the dollar and the euro will be most welcome. The recovery against the dollar has been much more prominent than that against the euro but nonetheless there has been significant movement over the last few weeks. On the flipside, a recovery in the pound would reduce the attractions of UK assets for overseas investors although unfortunately it may be a little too soon from many to rush through any proposed UK investments.

When the pound was at its lowest level against the dollar and the euro there were many sceptics who forecast an ongoing crisis for the UK currency. However, while the situation regarding the UK economy is still relatively dire we have seen the likes of America and Europe as a whole continue to struggle and fail to follow through on earlier promise.

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