British pound weakest in 20 years against krona
Published: 20 Feb 13 13:15 CET | Print version
Online: http://www.thelocal.se/46304/20130220/
The British pound is at its weakest in two decades against the Swedish krona, with experts suggesting that now is the time to head to London for a spot of shopping.
- Sweden may cut aid to Palestinian territories (14 Jun 13)
- Ex-Riksbank official bashes rate policies (4 Jun 13)
- Banks must heed long-term risks: Riksbank (28 May 13)
On Tuesday, the British pound was worth 9.72 kronor ($1.55), the weakest it has been since the autumn of 1992, according to the Svenska Dagbladet newspaper (SvD).
In fact, the pound has been dropping ever since 2009 when it peaked at 13 kronor, and head Nordea analyst Annika Winsth points the finger at British officials.
“Prime Minister David Cameron’s speech about an EU referendum has been interpreted as negative from a financial perspective. The market also takes into account that the Bank of England has got a new head who signaled inflation,” she told SvD.
Thulin, meanwhile, pointed to the structurally sound Swedish economy as a safe haven for the strong krona, and suggests that with the pound so weak there has not been a better time for Swedes to head over to the UK.
“For the typical Swede, now is the time you want to go shopping in London,” he said.
“As for Brits, it’s not good news if they’re planning on coming to Sweden, unless they bought currency at a better time.”
Thulin added that the future appeared bleak for the pound, and predicted a continued drop over the year.
“According to today’s data, the trend will likely continue for a while,” he told The Local.
“We’re betting that we haven’t seen the end of this yet.”
Oliver Gee
Follow Oliver on Twitter here
What do you think? Leave your comment below.
New Telia CEO 'excited' about the job
TeliaSonera's new head Johan Dennelind believes he is the right man to restore the Swedish telecom giant's reputation after the company's Uzbek bribery scandal. READ () »
ABB board unanimous in pick of CEO
Swiss-Swedish engineering giant ABB has appointed a new CEO, who has a background in oil and gas, utilities, telecoms and automotive industries and who was a key player in the acquisition of Baldor. READ () »
Wine pulled because it was 'too good': supplier
Sweden's state-run liquor store monopoly has sent back 6,000 bottles of a Spanish wine because it tasted better than expected, according to a Swedish alcohol supplier. READ () »
Sweden may cut aid to Palestinian territories
Development aid minister Gunilla Carlsson has said that the Swedish government may reduce development assistance for the Palestinians since they have failed to reach a peace agreement with Israel. READ () »
Gothenburg corruption blamed on city culture
A hierarchical "Gothenburg Spirit" among politicians and civil servants contributed to a culture of corruption in the past decade, concluded a report on Sweden's second largest city. READ () »
Sweden abandons bid to lift EU snus export ban
The Swedish government has given up its efforts to force the European Union to scrap its ban on the export of snus, choosing instead to focus on protecting the popular moist tobacco product's use in Sweden. READ () »
'Swedish work-visa window too narrow'
Since 2008, migrants to Sweden can swap course from seeking asylum to seeking a work visa with the help of an employer. The Local speaks to one migrant who praises the system, while saying it could be improved. READ () »
Fire hits Swedish nuke plant near Gothenburg
A small fire broke out at the Ringhals nuclear power plant in western Sweden on Wednesday morning, less than a day after the reactor had been removed from special observation stemming from a series of safety lapses in 2009. READ () »
Bankruptcy hits major Swedish free school firm
JB Education, one of Sweden's largest operators of publicly funded and privately managed free schools, announced on Tuesday it was declaring bankruptcy. READ () »
US judge rejects Saab bankruptcy lawsuit
A US court has dismissed a $3 billion lawsuit by previous Saab owner Spyker alleging that US auto giant General Motors was responsible for causing the Swedish carmaker's bankruptcy. READ () »
- 10/06 AstraZeneca snaps up US inhaler company »
- 07/06 Prosecutor seeks docs in TeliaSonera bribes case »
- 07/06 Swedish dads stay home as mothers work »
- 05/06 Sweden's Meda denies India merger rumours »
- 05/06 Ikea founder steps down from key board post »
- 05/06 Google to power data centre with Swedish wind »
- 04/06 New smartphone app for Sweden's high flyers »
- 04/06 Ex-Riksbank official bashes rate policies »
- 03/06 Volvo Cars admits to 'unrealistic' sales targets »
- 03/06 Many Swedish dads 'still at work' on parental leave »
| 17/06 | Authorization Engineer | Västerås |
| 17/06 | Backend infrastructure Team Lead | Stockholm |
| 17/06 | BUSINESS SOL ARCHITECT | Kista |
| 17/06 | CLOUD DELIVERY EXECUTIVE | Kista |
| 17/06 | Component Test Engineer - Research & DevelopmentAxis Communications | Lund, SKÅ |
| 17/06 | Console Tech Programmer Tom Clancy?s The Division? | Malmö |
| 17/06 | Cost ControllerSchneider Electric | Mora, DLN |
| 17/06 | Development Engineer Polymer MaterialsTetra Pak | Lund, SKÅ |
| 17/06 | Director of Design - Growth | Stockholm |
| 17/06 | Game Test EngineerNet Entertainment NE AB | Stockholm |
- 17/06 Sun sets on Siemens solar division »
- 17/06 Motorists flush away millions in toilet tickets »
- 14/06 Germany joins EU youth unemployment fight »
- 14/06 Canny footballer shoots, scores, is banned »
- 13/06 Rat poison found at Lidl supermarkets »
- 13/06 Berlin: EU can find 'good solution' to US free trade »
- 12/06 German chains 'ignore Turkish shoppers' »
- 12/06 Vodafone makes bid for Kabel Deutschland »
- 11/06 German court scrutinizes ECB's bond buying »
- 11/06 Poorer pensioners forced to work into 70's »
- Game Test Engineer
- Global Brand Manager to a medical
- Component Test Engineer - Research & Development
- Cost Controller
- Development Engineer Polymer Materials
- Global System Administrator - Roxtec
- Marketing Coordinator for a company in a fast-paced, international environment
- Senior Java Developer
- Shipping responsible
- Software Verification Engineer
- 08:30 Gothenburg road tax
- 08:25 Tax ... efficiency?
- 01:41 Swedish health care system
- 00:28 Study to be a Primary School Teacher
- 00:04 Swedish Citizenship Online Application Issues
- 22:22 Amazon UK item
- 21:15 Need some advice!
- 20:44 An interesting article about hiring foreign-born
- 20:02 Online Shopping (Womens Clothing)
- 19:23 Canadian moving to Lidköping
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.