I know this may sound like a 'stupid' question, BUT, why is it that the british pound is the strongest currency in the world relative to all other currencies????
I know it all depends as well on standard of living in the particular country (wages relative to prices and REAL differentials in prices relative to wages etc) and not just the currency difference factor .
But is there a reason why we go to the UK on holiday and spend a friggin fortune .
If wages are more or less similar, and affordability is more or less similar, why is it that their currency is so much stronger and relative to what we earn, we still find the UK a friggin rip-off???
Low inflation, high growth, higher bond yields perhaps??
Or is it that the UK is the financial hub of the world and has for example a HUGE amt of GOLD reserves???
Why is there so much faith in the POUND??? Im guessing its got something to do with UK being the most developed 1 st world nation in EUROPE and the number 1 banking hub in the world with HUGE gold reserves???
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