Sterling dived in value against the euro yesterday, hitting an all time low of 1.1890. It has also fallen to a six-year low in dollar terms. A combination of unemployment figures at their highest for 10 years, and worries over deflation have prompted investors to sell sterling.
The pound is below $1.50 for the first time since July 2002. Holidays in the Euro zone will now cost approximately 20% more than a year ago.
Buying a EUR500,000 house in France at the end of 2007 would have cost £354,600; today the sterling price would be £420,520.
See the FT Adviser which argues that the recession could result in a parity between the euro and sterling by the end of 2009
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17 outstanding homes for sale across Britain, from under £250k to £6.5 million, as seen in Country LifeSomething for every budget in this week's round up of homes across the country that have come to market via Country Life.
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'We started thinking: if we were going to design a bike for Aston Martin, what would it look like? And then we simply couldn’t stop': Aston's new bike has everything you could ever dream of — except a price tagThe new Aston Martin .1R bicycle, a collaboration with manufacturer J.Laverack, leaves Paul Henderson stirred rather than shaken.
