From a currency stance...
The Euro (EUR) is probably fine. You can safely ignore the "sky is falling" Euro boogeyman rhetoric being tossed around on various news/infotainment venues, as caused by ongoing austerity issues in countries like Greece. Plus some inflation of the Euro would not necessarily equate to changes in the currency exchange against GBP, as the GBP would probably be tied to the EUR in some way. At most, assuming UK doesn't match Euro inflation, UK buying power would likely increase over time -- meaning the price for you would go down, due to exchange rates favorable against the British Pound (GBP).
USA users would find themselves in the opposite situation, across long-term use, historically. Rising inflation of the USD actually made prices rise by about 15% over the past 6 years, against a stronger Euro. It's not a desirable loss of value, but it's also not overwhelming. A €29.95 EUR hosting plan was about $35 USD six years ago, but rose to about $39 USD over time. Canadians are largely unaffected, based on my memory of exchange rates going back to 2000; USD and CAD are at parity right now, almost a 1:1 exchange.
In terms of hosting quality...
There's virtually zero advantage of getting a "UK host" over a reasonably close European host, which Amsterdam is (the location of
EuroVPS servers). And IP addresses are not always geo-tagged to the proper location anyway. Using a .co.uk (or other UK TLD) domain, and adjusting your settings in Google Webmaster tools to target UK, is all that truly matters.
You'll also find that a number of small/medium "UK hosts" are slowly being bought up by U.S. and Canadian hosting companies. There's no reason -- it's just a recent trend of happenstance that I can see. A lot of USA based hosts are also launching servers/services in UK and European datacenters.
You'll have a hard time topping
EuroVPS, for quality of hardware, network and support.
Stablehost, Futurehosting and
JaguarPC have UK (London) hosting locations. Those are all USA-based hosts, so understand their content and usage policies will generally reflect U.S. laws and regulations.