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Debate House Prices
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June Nationwide 0% MoM, -1.1% YoY
Comments
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Remind me why the British currency is known as "Sterling"?!
Related: Reuters - Sterling slides to 15-mth low vs euro, currency basket
I notice the devaluation everyday when the FTSE-100 is slightly up while the Dax and CAC30 are slightly down, its invariably thanks to Sterling weakness.
For housing debt junkies who're just trying to keep a roof over their heads another day and don't care about the wealth affect then currency devaluation is okay. For anyone else the impact is really starting to hurt with real income falling at 3%pa and disposable income, thanks to tax hikes, falling even quicker.
I had a quick scan down the BBC currency page the other day out of interest. Seems we are nearing, or have broke the 12m low on about 3 quarters of currency. Not too sure why.0
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