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Volkwagen and the Euro


NormanH

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I would have though that the scandal over Volkswagen cars would have damaged the Euro, given that the German Economy is a major driver and one might expect it to be adversely affected; yet looking at the last couple of days, the £ to the € exchange has fallen off a bit of a cliff:

[URL=http://s253.photobucket.com/user/bfb_album/media/xchange_zpsmetvw2ex.jpg.html][IMG]http://i253.photobucket.com/albums/hh80/bfb_album/xchange_zpsmetvw2ex.jpg[/IMG][/URL]

Can anyone explain this apparent paradox?

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Nothing unusual, just the money men earning their Christmas money. I was very fortunate a few weeks ago when the £ was worth over 1.40,  I transferred some money, invested in another couple of thousand liters of oil and ten steres of wood, bought a new ride on mower and had the car serviced. One of the perks of having a son in law who is a futures trader. [:D]

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But Erns, I exchanged for a shade over 1.40 fairly recently..............so I think NH has a point though I am not certain about the time period that we are talking about......sorry!

1.40 was wonderful for me even though I didn't need any euros but I had a budget in sterling in mind for the kitchen and the exchange rate enabled me to do it within budget.

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  • 1 month later...
[quote user="NormanH"]Caxton's sent me an email:

With Sterling’s recent weakening, the Euro is currently trading at its strongest rate against the pound in almost six months.

so I think my original point was justified

[/quote]

Looks like your point is a bit blunt this morning Norman.    £-Euro 1.4041,    

I wonder what news has influenced the reverse this time. Surely not the

French foreign minister's son's gambling habits? [:D]
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