yes agree with all this also would add some more random thoughts...

yes agree with all this also would add some more random thoughts that don't quite form a theory...

-the UK is the world center for bond trading and reinsurance

-the LSE is the world's second largest equity exchange and is growing at a faster rate than the NYSE particularly attracting a lot more new issues and capital from Asia and Europe.

-historically the pound was the world's currency of choice before the dollar took over

but I think the international connections are the most important factor - transatlantic, colonial, European, east Asian (through Hong Kong) and middle-eastern. History, language and geography all help to keep money flowing into the country, the pound high and tourists disappointed. Still it looks cheaper than it did in the past and Australia is itself developing a reputation as an expensive destination.