If you’ve been on holiday abroad recently, you’ll be all too aware how expensive everything has become if you’re paying in pounds.
Sadly for travellers, and also for importers, our national economic woes mean there’s little sign of sterling recovering much in the near future. But the pound’s not the only currency with problems.
With various parts of the eurozone near-bankrupt, the euro is under pressure, while Japan’s recession means the yen doesn’t look too hot either. And the Swiss franc – a traditional safe haven – has been deliberately crushed by the Swiss central bank, keen to prevent deflation.
Still, there’s always the dollar. It might be massively indebted, but America is still the place where everyone runs to put their money when things start looking shaky. The dollar is still the world’s reserve currency.
But perhaps not for much longer…
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