The Pound Continues To Benefit From The Eurozone Crisis Reaching A 3.5 Year High Against The Euro

The British Pound has continued to benefit from the escalating crisis in the Eurozone reaching the highest level against the single currency in more than 3.5 years.

Sterling has risen against the Euro to levels not seen since November 2008 after elections in France and Greece at the weekend cast doubt on the viability of austerity measures aimed at tackling the regions mammoth debts.

The Pound now buys €1.2437 up 8.7% from a year ago providing a boost to British holidaymakers looking for some summer sun.

A 5 Year Chart Of The British Pound vs. The Euro

Chart courtesy of Yahoo Finance

The best looking house in a bad neighbourhood

Sterling hasn’t just strengthened against the Euro, it has also made significant gains against some other currencies. Over the past 12 months the pound has gained 18.5% against the Hungarian forint, 14.8% against the Brazilian real, 14.6% against the Turkish lira, 9.3% against the Icelandic krona, 14.2% against the Indian rupee, 12.4% against the South African rand, and 9.8% against the Mexican peso.

Right now the British Pound (along with the US Dollar) is the best looking house in a bad neighbourhood.

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