The data this morning regarding the widening trade balance was quite disturbing from the UK's perspective, as it shows the huge fall seen in sterling over the past year has yet to translate into any improvement to our external financing position in respect to global trade. This implies that a further exchange rate adjustment is needed, and we have not yet reached a point of equilibrium.
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Probability Professor
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Patience + Discipline - Greed = Success
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Just digging in the trenches like everyone else!