The value of sterling had a 'profound effect' on our economic fortunes.
Unfortunately, this was partly because the value of sterling itself fell significantly.
This was due mainly to the very high value of sterling against other currencies.
A 19 per cent slump in the value of sterling against the Hong Kong dollar was a big contributor.
My bet is that QE is likely to keep the value of sterling low.
I would have assumed that a source of the consumer inflation was a result of the decline in the value of sterling.
-Check out the cost, especially with the decline in the value of sterling.
At various times, notably from midsummer 1985, these threatened the value of sterling and seemed likely to cause an old-fashioned 'run on the pound'.
The value of sterling relative to other currencies dropped by around 30%.
Lady Thatcher did not believe in keeping the value of sterling to a level which would help British industry.