Investor Jim Rogers, chairman of Singapore-based Rogers Holdings who co-founded the Quantum Fund with George Soros, said he is shunning sterling because of the U.K.’s trade deficit. “Things are pretty bad for sterling for the long, long, long term,” Rogers said in an interview with Bloomberg Television today. “I cannot imagine buying sterling back unless it gets really cheap.”
“I doubt I will own sterling in my lifetime,” said Rogers, 67, who predicted the start of the global commodities rally in 1999.
The U.K. trade deficit unexpectedly rose in January to the widest in 17 months, reaching 8 billion pounds ($12 billion).
My message of 6 Nov 2006 (zloty/sterling rate as of that day was 4.74) in this thread said:
Most predictions here are that the zloty will strengthen against the euro and the dollar in the coming months. If the pound is likely to be achieving the same, may we expect the zloty/pound pair remain at a fairly stable rate between 4,70-4,80 down into the first quarter of 2010?
The sterling is at 4,33 zloty as of today; the first quarter of 2010 is not over yet, however.