Dislikedlong term it's always fundamentals that play a role. The drop had all to do with decreasing interest rate differential and negative sentiment as the UK economy collapsed. UK bonds are now rated same as Latin-European countries.......Ignored
All I'm saying is that after such a huge drop in Sterling, the current prices should not necessarily be regarded as high.
Japan's economy has been a mess too and even with the recent data suggesting Japan's slump is easing, Yen is still dropping. Fundies should dictate Yen rising, it hasn't.