Read what i said big boy......
On 8 October 1990 the Conservative government decided to join the European Exchange Rate Mechanism (ERM), with the pound set at DM2.95. However, the country was forced to withdraw from the system on “Black Wednesday” (16 September 1992) as Britain’s economic performance made the exchange rate unsustainable. Speculator George Soros famously made approximately US$1 billion from shorting the pound.
The yanks and Co wont be able to keep it up is what i'm saying.
watch defense of 78.40 on the us dollar index , page-7
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