Re: @Tom 64: Really ....
Compare the £ to against anything and you will see the HUGE drops.
It goes up and down fairly regularly against the dollar. 2:1 in 2009, 1.4:1 in 2009, that was a worse fall than recent weeks, and it came back.
Against the euro it's at about the same level now as 2013, same is true against the Yen. It's no big deal. Over the past many years I've sometimes made 10% on conversions that I couldn't avoid, sometimes lost 10%.
The next thing that will start falling like hell is the housing market and that will hurt us badly!
Why? Absolute house prices are really only a problem for people entering or leaving the market. If you sell a house for 200K and the one you want to buy is 200K the actual price doesn't matter, could be 100K or 300K. UK house prices are very overheated at the moment, a drop would be a good thing for people trying to enter the market.
Biting the hand that feeds IT
