But there is always bullion to consider as a possible reference-point for paper money. Readers will know I am a long-term holder of gold (strictly physical) which has been a one-way bet for several years now. There have been some lurid commentaries on the precioussss just recently but I am unmoved: and quite by chance (Moody's having inexplicably failed to tip me off) I decided at the end of last week that we had reached a bottom. So I went long silver, which I haven't held for ages now, and is by far the more volatile of the two traditional PMs: but I expect to be at my desk for a bit now, and able to watch the screen.
So if the post-Moody pound is to weaken against the dollar, I shall be even more glad of the decision. Then again, CU may be right and Sterling may bounce, which would take some of the shine off it.
As always, just MHO, DYODD etc etc.
Update: and now there's this -
"Sterling is winning the currency wars, having overtaken the yen as the world's worst-performing major currency this year, although economists suggested the pound's biggest falls could be behind it"