Blog: Cheap sterling
Dave Leggett | 16 October 2008
I had a good natter with our columnist Rob Golding earlier. He's off to India on Sunday with Suzuki and he's looking forward to that, so he was on good form. We had a spot of bother, though, trying to think up a catchy title for his latest 'Golding's Take' missive.We like to do puns, but nothing jumped out. We played with terrible puns on Gordon's brown trousers for a while, but nothing quite worked or was printable.
Rob is good value for money on developments in financial markets though. He's had his time as an analyst in the City and, now that he is out of that, he has an interesting perspective on it. He's seen it on the inside.
Rob reckons sterling will continue to take a hit and that will be to the benefit of exporters. So, as Britain's real economy goes into recession on the back of the British economy's exposure to Anglo-Saxon ills like an unhealthy housing market and a financial services sector that has fallen from grace and made a horrible mess all over the floor, it's not all bad. The weaker pound will make life better for the car firms that still export from here and I hadn't realised quite how far the pound has already weakened.
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