I'm thinking about investing in an ISA tracker with Legal and General.
£100 a month equally split between UK markets, US, Japan, Pacific and Europe.
My worry is that I've heard (on here) sterling is likely to be de-valued and since exchange rates would affect the payback from the ISA tracker I'm starting to have second thoughts.
Any ideas or comments, anyone?

Merv went on about a possible devaluation last week. I think he realises that the high pound is destroying what is left of our industry and our trade balance is the worst in literally hundreds of years. For my part, I own mostly US $ but have diversified those funds into international stock and bond funds that have holdings in just about all of the world markets with a trend that sees more going into Swissies and less in the UK.

Any form of diversification to protect yourself against a sterling collapse is a good idea. IMO, sterling is the most vulnerable of all the world's major currencies simply because it is at the peak against the Euro, Yern, US$, Canadian $, Yuan etc. Further, and more important IMO, is the fact that sterling rests on the success of Gordon Brown's miracle economy continuing much longer. That, for me, is the sell signal.

We are ALREADY devaluing the currency

http://en.wikipedia.org/wiki/Devaluation

Mr Bear in particular,

I'd be interested what you use to move the currencies around..
Sterling to $ for example.
I don't believe you'd use a bank exchange rate.
I have been looking at xetrade.com but up to now have been changing it at a citibank preferential rate in an overseas bank.

It really is a problem as taking such a huge hit is such a deterrent to doing anything.

I would personally move the bulk of your fund into Japan. This will protect you against a sterling drop as the yen is very undervalued compared to sterling (and other major currencies). The long term outlook for the economy is good as well so you could do doubly well.

Long term yes.
But the dollar is undervalued compared to sterling yet has the interest rates to sustain any savings in the short term.

Thanks, all.
I've taken the plunge. It's only £100 a month after all.