Sterling exchange rates have taken a hit over the course of the UK trading session weakening against all major currencies. It seems that the uncertainty about the general election and the possibility of a hung parliament outcome is not helping the UK exchange rates at present.
It seems that the longer it takes for Gordon Brown to call the general election the longer it will be before the Pound starts to strengthen again. If we do end up with a hung parliament then it may be well into 2011 before sterling exchange rates do revise on the up.
With all the problems that are surrounding the PIGS of the Euro Zone at present we have to ask ourselves if the pound can not strengthen on the Euro now what are the chances once Greece implements their strategies to reduce their massive fiscal budget deficit?
I feel that the longer the UK’s political instability continues the once great British Pound will be the only loser!!!
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