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When will the demise of sterling finally hit rock bottom?

As the UK currency continues to move lower and lower against the majority of the leading currencies of the world's there are serious concerns that we may be on the verge of a collapse in the UK pound. The currency is now at a 28 year low against a number of major currencies and with interest rates set to move lower in the short term there would appear to be little chance of a letup in the fall. So where does this leave the UK in the short term?

Rather perversely we may well see a number of foreign investors looking towards the UK in due course because many currencies have seen their spending power increase by over 30% against the UK pound. This may well assist in a recovery in the property market, increased overseas business investment and possibly the takeover of a number of UK operations. In many ways the UK is highly exposed to any offers from overseas investors with a government keen to try and refloat and strengthen the economy.

However, as we have covered on a number of occasions it is highly likely that if sterling continues at around current levels there will be an increase in import costs which could impact upon inflation and the cost of living.

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