By Robert Sutherland Smith | Wednesday 9 July 2014
It was my belief some months ago, when trying to anticipate events against then current individual share valuations of dollar earners, that Sterling would be weaker against the dollar and the Euro, thus improving profits from such companies. That was in part based on my view (I have been a long term bull of the US economy) that America’s economic recovery would not only be sounder that that in the UK, but also that interest rates would, for that reason, be expected to head higher than ours. This would attract overseas institutions to the US dollar, pushing John Bull’s - no one seems to refer to him anymore so I am bucking the trend - pound lower against Uncle Sam’s dollar. How wrong I was!
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