Overseas investment boosts sterling

Over the past few years, the emergence of sterling as one of the world's most stable currencies has ...

Over the past few years, the emergence of sterling as one of the world's most stable currencies has surprised many people, especially the British, who were once used to a steady diet of currency crises and runs on the pound. One of the reasons for sterling's strength is the UK has become highly dependent on the income it earns on overseas investments. Far more than most comparable countries, the UK has become reliant on its investment skills. The British, both as companies and individuals, used to be great industrial managers. Now they are great portfolio managers. The trouble is, you ca...