Pound Strengthens February 20, 2015 12:00 am The Pound has continued to strengthen against the Euro over the last few weeks – largely as a result of the uncertainty around Greece’s debt and the effect of any ‘Grexit’ on the Single Currency. The Euro has dipped below €1 = 73.5p at times (£1 = €1.36) – its lowest level since 2007. As we have written previously a strong Pound is generally bad news for UK farming. It makes our exports less competitive in the Single Market, makes European imports relatively cheaper (forcing down domestic prices), and would make the value of the Basic payment lower if thestrength was maintained until September.
