drposhmoney

British Ounce, U.S Dollar Toppled by Tumbling Home Prices

The author talks about Sterling's decline because oil exports have declined a bit. However, hasn't the price more than doubled recently? And, in actual fact isn't Sterling's almost 20% decline against the Euro a kind of win-win situation, given that Sterling's secular uptrend against the dollar remains intact? We pay relatively little more for commodoties than the Eurozone, but can now sell value added products to them at an almost 20% discount? Also, it's not the British housing market that's facing a huge oversupply, you need to go to Spain for that. Probably true that a lot of Brits have mortgages on Spanish property, but when the dust settles the Pound will bounce back pretty swiftly I imagine, more is the pity! :-)