Only a month ago the BBC Business News had a piece about the harm to UK trade due to the high value of the Pound, up 7% this year against the USD. bbc/news/business-28705747 It In another more recent article about WPP, the BBC noted that their profits had been ravaged by the high value of Sterling. The Pound has made a small drop (that will probably be recovered) of 1% and all hell is breaking loose. Its actually headline news on the BBC and others. Should we not be celebrating this slight devaluation? Just wait until interest rates go up! The Pound value will go sky high along with mortgage rates. Enjoy your lower value Pound while you can: it doesnt affect you at all and helps exports. Itll make tourists feel better about visiting too.
Posted on: Wed, 03 Sep 2014 07:36:00 +0000