Hurrah - good news for all potential property buyers and mortgage holders in Spain, France, Portugal and elsewhere with the euro.
It seems to have taken a hell of a long time but the exchange rate has broken through the 1.20 mark.
Hopefully 1.20 was a psychological barrier and the rate will continue upwards towards 1.30
Great for anyone buying euros to pay for their mortgage overseas
Economic news from the UK seems to be more positive than the euro-zone, which is now helping the pound