Get The Bunting Out

25/04/13 -- News that the UK managed to avoid slipping into a dreaded triple dip recession with growth of a MASSIVE 0.3% in the first quarter of 2013 was all it took to get the pound up above 1.18 against the euro and over 1.54 against the dollar today.

Chancellor George Osborne, the great big cry baby, said that the news was "encouraging" in a stunning display of gregariousness.

There's talk that the euro may weaken further next week if the ECB lowers interest rates in the Eurozone, which many think they will following weak German economic data this week.

With rates at 0.75% there's not a great deal of room for manoeuvring, and the benefit that would be derived from a 0.25% cut may only be minimal, but we shall see. An announcement is due next Thursday.

Meanwhile, Spanish unemployment has hit a record 27.2%, and a few Real Madrid and Barcelona players may be joining the queue judging on this week's football results.