Wednesday, April 28, 2010

UK crisis beckons

Sterling hit as Greek crisis put focus on UK debt

* Dire UK fiscal situation back in focus * Political uncertainty adding to pressure on the pound

Posted by alan @ 10:05 AM (1107 views)
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3 thoughts on “UK crisis beckons

  • Good old Sterling, it always comes out in a crisis and becomes the default punching bag currency.

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  • What a rubbish headline. Sterling was trading near the top of its recent (2 months) range vs USD, and so one could just as well have dismissed this fall as profit-taking, instead of dragging our currency into the awful mess on the Continent.

    It looks to me as if Sterling might have found a floor. Let’s talk it up a little, please, journalists. Now we’ve escaped the awful over-valuation, we need to avoid an equally bad under-valuation.

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  • Excellent. That means a weaker currency = cheaper property in the UK for overseas buyers. How do I know? Well, I’m an Australian that moved to the UK 10 years ago, when it was over $3 Australian to £1. Now sterling is half that value. So, half price properties in the UK for Australians!!! The UK… great if you’re a foreigner… doomed if you are a local making £££££! 🙂

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