Hand in hand they jumped off a cliff
July 18, 2011 I spent mainly been hedging - if the euro is worth more than 86.6p on 30th Sept 2011 I have made a bad call.
Looks like a wash - which means that despite all the doommongering about the euro in the last three months the money believes the pound is still an equal to it. Which is worrying.
The European Central Bank has released the Euro exchange rate that will be used for calculating SPS 2011 payments. It will be 0.86665.