During most of the first half of 2010 the cut and thrust of sterling against the euro had a political origin of one sort or another. It was also sterling that did most of the cutting and thrusting: from a low of €1.0950 in early March, and after a period of hesitation in May, the pound eventually managed to make it as far as €1.2350, its best level in more than 18 months. Read more »