Euro and pound.... ?

for where I stand I think the pound is horrendously overvalued. The only way I can see it going is south an din a hurry.

our balance of payments are appalling

there is still some petrocurrency value attached to the pound, but as we come increasingly less self sufficient all I can see is the Balance of paymwnts collapsing further.

I'm a little suspicious that the pound is trying to be held roughly in a rate band with the Euro. it may not be, it may be but hidden it just seems odd that the pound Euro rate was soo stable for so long. mind you it coudl just be that the governemtn is so scared to let the pound Euro rate collpase as it would put so many of the geegaws we no rely on increase in price (things like cars), although oddly enough it should help british manufacturers readdress the horrendous Uk/Europe trade imbalance

Probably.. especially with this credit crunch