Here's a chart of GBP vs a basket of other major currencies from 2009 onwards.
Clearly, it fell rather dramatically for three years from late 2007 to 2010, then it dipped a bit more and has now climbed back to ten per cent lower than its long run average; there's no reason it wouldn't go back to that long run average over the next year or two.
That all depends on whether the other countries' economic policies are more or less stupid than ours, chances are they will all be equally stupid.
Debate Magazine
