Wednesday, April 18, 2007

I Miss London

But who the hell can afford to go with this exchange rate.

The British pound climbed to a 26-year high Wednesday as the euro rose to its highest level in two years but fell short of its all-time record.

The strength of both currencies indicates Europe's economy is performing better than expected amid fears of a slowdown in the United States and booming competition from China.

It also makes visiting Europe more expensive for Americans, but shopping trips to the United States more enticing for Europeans.

The pound rose as high as $2.0132, then settled back to $2.0057 -- down slightly from the $2.0066 it fetched late Tuesday in New York. The last time the pound rose this high was in June 1981, the year Ronald Reagan took over the White House from Jimmy Carter.

While there price variations for some things, a reasonable rule of thumb is that what costs a dollar here costs a pound there.

Used to live right around here.