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When will the pound stop falling?

There are many investors in the UK dismayed at the fall in sterling which today touched as low as $1.537 in early trade against the dollar, although there are as many UK investors with overseas assets who welcome the unexpected bonus!

However, as the UK economy sinks deeper and deeper into the mire there are real concerns about the future of sterling which has fallen from $2 to the pound just 12 months ago - losing over 20% of its value in the process. While the move will assist exports from the UK it will have a serious impact upon imports which will have a knock on affect to the underlying cost of goods in the shops.

In the past currency has not been a major issue for the UK population as it has remained fairly stable for many years. However, having broken through the $1.60 mark without a friend in the world and more interest rate cuts likely to follow in due course it seems that it could yet fall lower. UK Plc is struggling, debts are creeping higher and nobody knows when it is going to end.

The fall in sterling may seem irrelevant to many but when you monitor the cost of goods imported from overseas, of which there are many in the UK, we will soon see how 'irrelevant' the affect will be.

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