Currency movement is something I have been watching rather attentively this year. The baht has already appreciated about 4% since January, trading around 29.30 to the US dollar yesterday. I cannot help thinking how far we have come from the point when the baht was worth much less _ 50 to the dollar and 90 to the pound in early 1998.
I remember I almost made the best investment decision of my life by buying a property in Cambridge in 1995. Unfortunately, I did not. Just think how much I would have made out of a UK property after the 1997 Thai currency devaluation and the up-cycle of UK housing prices that followed!
Again, there is no such thing as a perfect investment or perfect decision, especially in this environment. Many hopes for recovery are now being pushed back. Despite some positive news, major weaknesses in the global economy persist. In the United States, sweeping budget cuts could slow an otherwise promising recovery.
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