According to an FT article , a list of bad news about the UK economy is pushing the sterling down:
- a record £10.96bn current account deficit in the fourth quarter of 2005, or 3.6 per cent of gross domestic product
- a decline in mortgage approvals
- US short-term rates rising above the UK's for the first time since January 2001
Obviously, I don't want the UK economy to go down too much since I want to stay in London after the MBA. But still I think the end of the strong sterling is good news for all international students at LBS, alleged to make up 91% of the class.