Move Over Raymond

Hi to all CIOBS bloggees and welcome to the return of superblogger.

At least I think that's what Raymond called me!

I was off for one week, yes, one week only and Mr.Raymond Brown manages to do two blogs in that time!

And he accuses me of hogging this blog! Indeed!

Well done Raymond. Two very informative blogs and with a touch of colour too!!!

He certainly had a busy week when I was not around and this week continues on the busy theme.

As we head towards the Festive break and the shortest day of the year, no doubt you will be in the same situation saying" let's get this done by the year end and that should be finished too"

The weather here in Scotland has been very cold this week, in fact I do not think the frost has lifted since the weekend.

Contrast this with the student from The British Virgin Islands that I was talking to this week who said"Yes, it is a bit chilly here too Michael, today the temperature is only 22 degrees Celsius"

Yes, indeed!!

Raymond was telling us all about low interest rates last week and this week it is the turn of the Pound in relation to the Euro, with the Pound continuing its sharp decline against the Euro, reaching a new record low of 1.1238 Euros this afternoon.

It is now at the lowest level since the Euro was launched in 1999.

Before anyone points it out, I know that Euro notes and coins did not appear until 2002, but the Euro existed as a trading currency from 1999 when it replaced the ECU!

As I am sure all Chartered Banker students and particular those of you studying International Business know, lower interest rates make it less attractive for foreigners to hold pounds.

A weaker pound is better for the UK exporters but is bad news for British holidaymakers who plan to go abroad during the Christmas season, and also makes imported goods more expensive.

However, the pound gained one cent against the US dollar, reaching USD1.4924 this afternoon.

Well I must go now someone is about to start drilling a hole in the wall where I am today. I have been waiting for this for a while, so drill away I say!

Michael (An International Blogger or is that Hogger?)