The Pound stays overvalued against the Euro

Note: This section contains information in English only.
Source: Bloomberg
The British Pound substantially appreciated against the Euro in 2012. This led to a decrease in profits of British manufacturers. The UK lost its competitiveness and become unattractive for the buyers from Germany and France. The current trading rate stays at GBP 0.7860 per EUR, though last week the Pound gained 0.9% against the Euro. Moreover, OECD (Organization for Economic Cooperation and Development) accounted the British currency is 4.8% overvalued against the European counterpart.
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