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European Policymakers Fire First Shots in Currency War

Whilst it may seem good the the pound is falling the question is how this really benefits the UK economy as huge importer, how many competetive export-orientated industries does it still have (a weak currency now is of little help if the industry is no longer exists in the country..) and how will the fall in supply of North Sea oil affect its import bill if the pound continues to be weak?
Britain actually needs a strong pound.
Not so sure on the yuan, I can even see it appreciate against USD/Euro.