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 next in line for housing market crash' (17 May 13)
- Nordea tracked clients in secret 'black book' (13 May 13)
- Borg defends critique of strong Swedish krona (10 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.
'Lean hospital a sign of Swedish welfare reform'
A Stockholm hospital saved from closure by private health care providers has been hailed by the Economist as one of modern's Sweden public-private success stories. READ () »
H&M mulls production in South America and Africa
Swedish clothing giant H&M is looking into the possibility of sourcing its production to South America, Central America, and even Africa, chief executive Karl-Johan Persson said on Monday. READ () »
Nord Stream plans new gas pipelines
Gas pipeline firm Nord Stream will hold an information meeting on the Baltic island of Gotland on Monday to introduce a proposal to extend its controversial gas pipeline project. READ () »
'Sweden next in line for housing market crash'
Sweden tops a list of countries that risk suffering a housing market crash, Germany's Commerzbank has warned, citing the slackening off of Swedish property prices as a harbinger of a potential downswing. READ () »
Solna voted best place to live in Sweden
Solna, a suburb just north of Stockholm, is the best place to live in Sweden, according to a new ranking published on Friday by Swedish news magazine Fokus. READ () »
Ikea founder rated fifth richest in the world
Ingrad Kamprad, the founder of Swedish furniture giant Ikea, finished fifth on the Bloomberg Billionaires Index published on Friday, with an estimated fortune of $55.6 billion. READ () »
LinkedIn profile lands Swede with hefty tax bill
A Swedish man is facing a five-million kronor ($750,000) add-on to his tax bill after the authorities took a proper look at his account on the professional networking site LinkedIn. READ () »
India in no rush to open first Ikea store
The first Ikea store to open in India may not be ready for years, with the India head of the Swedish furniture giant prepared to wait until the the perfect location is found for the first of the 25 planned stores. READ () »
H&M CEO to Bangladesh: raise minimum wages
H&M CEO Karl-Johan Persson has urged Bangladesh to raise its minimum wage, adding the Swedish fashion giant is "willing to pay more" in the wake of a garment industry disaster which killed more than 1,100 people. READ () »
Pensioners to recruit ageing Swedish rockers
The Swedish Pensioners Association wants to cast off its "stuffy" image at the Sweden Rock festival, in a recruitment bid to set up a rock music subgroup of new members. READ () »
- 15/05 Swedish shop hits back: our Converse are real »
- 15/05 Young Swedes forced to live with mum and dad »
- 14/05 Converse in bid to ban 'fake' shoes in Sweden »
- 13/05 Nordea tracked clients in secret 'black book' »
- 10/05 ABB executive to quit after five-year tenure »
- 10/05 Borg defends critique of strong Swedish krona »
- 08/05 EU green lights Volvo and Dongfeng merger »
- 08/05 Sweden sells toxic Baltic salmon to EU: report »
- 07/05 Swedish app lets 'everyone' write music »
- 07/05 'Invisible thread' can help fight fashion pirates »
| 20/05 | Application EngineerNet Entertainment | Stockholm |
| 20/05 | Application EngineerNet Entertainment NE AB | Stockholm |
| 20/05 | Business Development ManagerHays | Stockh, STHM |
| 20/05 | Certification Project ManagerNet Entertainment | Stockholm |
| 20/05 | Client Solutions EngineerInteractive Medica | Stockholm |
| 20/05 | Enterprise Risk ManagerNet Entertainment NE AB | Stockholm |
| 20/05 | Global Senior BuyerValueone AB | Stockholm |
| 20/05 | Group Risk ManagerHumancapital | stockholm, STHM |
| 20/05 | Salgsassistent / Sales AssistantHoss Intropia | Copenhagen |
| 20/05 | Senior SW Developer, Sony Mobile CommunicationsAdecco | Lund, SKÅ |
- 18/05 Economists warn against German euro exit »
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- 15/05 ThyssenKrupp bins 3,000 admin jobs »
- 15/05 Pay deal for metal workers averts strike »
- 14/05 First ever strike hits Amazon's German unit »
- 14/05 Volkswagen plans giant car plant in China »
- 19:11 Short term rental in malmö
- 17:28 Found out I'm pregnant!
- 17:23 Salary expectations for managing a busy bar?
- 17:20 Relocation to Stockholm
- 17:17 Shopping online for electronics
- 16:55 Investment market in Sweden
- 16:47 Taking bills via Autogiro without service
- 16:41 Swedish Summer Language Classes in Malmö?
- 16:30 Buying property in Stockholm
- 16:15 Need to help to choose the best place.
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
Casa Birgitta in Algarve, Portugal. Reduced price in best location. Private estate on white sand beach. All amenities included. Book here today! edward_george1@hotmail.com
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
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
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.