Pound 'set to rise against the euro'

Many Britons could be keener to jump on ferries from Dover to Calais and visit France due to the rising value of the pound against the euro.

Property journalist Marc Da Silva predicted that the recent increase in the relative value of Sterling is set to continue.

He said that while the British currency is not as strong as it was four years ago, the current economic problems in the eurozone are likely to strengthen it further, with problems in Greece, Portugal, Spain and Ireland making the euro "extremely fragile".

"Without being an expert, I project that the pound will potentially hit 1.26 or 1.27 [against the euro] in the short term," he remarked.

While Mr Da Silva noted this might benefit property buyers, the exchange rate boost can also mean British tourists visiting eurozone countries get better value for their money.

A Reuters report this week noted that most analysts expect the pound to carry on rising in value against the euro in the near future because of the crisis.

Posted by Mark Robinson

Dover - Calais

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