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Recent posts from the Cumbre Villas Blog

As Inflation Rises So Does The Pound

The Pound has broadly gained since last week largely due to last week’s Bank of England inflation report on Wednesday. At the start of this week we touched the 1.18 levels against the Euro and have reached 1.60 against the US Dollar. With the amount of volatility that we have recently seen, it is worth considering booking a transfer or fixing a rate in advance for any GBP transfers into another currency.

Currency Focus Shifts Back To European Debt

Another week and another swing in the rates.

Decisive Week For Currency Movements

Last week was one in which there was a turn-around in the status quo of Sterling exchange rate movements and this week is shaping up to have just as much potential for movement.

Little Help For The Pound

The horizon is still looking pretty sparse in terms of any potential news that could bring some respite to the Pound.

Are we in a Currency War?

‘Currency War’ has been a phrase increasingly bandied about by the news and press over the past week with severe fluctuations in foreign exchange rates making headlines. In truth, the nations tied up in accusations of artificially weakening their currencies (to ensure the competitiveness of their exports and therefore their respective recoveries) tend to be those nations with currencies mainly used as currency investments such as Japan and Brazil.

Pound Failing To Pick Up

Despite the wealth of economic news releases, central bank interest rate meetings and global G7 and International Monetary Fund meetings over the past week, the state of play in the currency markets between the Pound, US Dollar and Euro at least has not dramatically shifted. Generally speaking, we are still seeing a very strong Euro which in the space of the last few weeks has maintained eight month highs on the US Dollar and six month highs on the Pound.

Euro Holding Up As Irish Banking Fears Mount

Markets have opened this week with the Euro still holding out in a strong position against other major currencies, with the Pound trading around the level of 1.176 against the Euro on Monday. Conversely, the Pound, in a weak state itself, has actually hit a six week high against the even weaker US Dollar. This general picture may have the potential to change shape over the week with news from Ireland having the potential to knock the Euro and a wealth of UK and US economic data due.

Pound Under Pressure As Housing Market Disappoints

Sterling is starting the week out on the wrong foot, sitting around 1.19 against the Euro and 1.55 against the US Dollar. Despite rising against the US Dollar last week for the first time in six weeks, news over the weekend had already arrived to dampen UK markets before the week had even begun. Dropping house prices made some of the Monday morning front pages thanks to the Rightmove data over the weekend. This was doubled up by figures from the Bank of England this morning showing a fall in mortgage approvals.

Yoga Classes on the Costa Tropical

For those of you interested in yoga classes, there is a wonderful, multi-lingual teacher offering classes in Motril, Salobrena and Almunecar.

Euro Becomes More Attractive To Investors

Speculative investors moving large sums of money are those who influence how currency markets are behaving and this week they are starting out in a positive and risk taking mood. In currency terms, this means that currencies seen on the risky side, such as the Euro, are strengthening at the expense of the safe-haven currencies including the US Dollar, Japanese Yen and Swiss Franc.