Next Stop for the Pound?

Heading Down to 1985 Levels...

George Soros, who made billions of dollars by selling the pound in 1992, recently said that he rode the pound down to the $1.40 area and then unloaded it. I can see where he's coming from — the $1.40 level had become a target of mine as the pound moved incrementally lower over the course of 2008.

And that's where the pound sits now, which means six years of gains have been erased in about 15 months!