Hello M00seUK:
The GBP is the oldest currency in the world. BUT, since 1999 when the euro was adopted as the standard of currency in European Union, [at less than one Euro to the dollar], it became the medium of exchange for all European products to and from the USA [dyson is a UK based product]. Not the lire, not the GPB, not the deutche mark, not the franc, etc. but the Euro.
The Euro [not GPB] has gained almost 30 percent against the dollar this year as the exchange rate of the dollar has plummeted against the Euro. Products like dysons that are imported by the USA for sale to American consumers cost more for USA retailers/buyers [based on dollar exchange rate to the Euro]. Hence, for example Americans have seen SEBO vacuum prices, German made, go up from $550 to $800 in the USA [unless it's old stock at previous exchange rates].
On the flip side of the falling dollar, American exports cost less for Europeans to buy than in the past by 30 percent. This is good for the USA trade deficit with Europe increasing US exports to Europe.
Carmine D.
Many thanks for the explanation. I have a supplier who's local currency is tracked to the US Dollar, so I've more interest than usual in exchange rates this year!
