General Election 2010 and the Pound

The outcome of the 2010 general election, a hung parliament, had an understandable effect on the value of Sterling. The negotiations between the Liberal Democrat party and Labour and Conservative parties is also having an effect. The latest news I read before choosing to type this is that theĀ  talks between the Liberal Democrats and the Labour party were now closed, but that they were continuing between the Lib Dems and the Conservatives – and with that latest news it also became apparent that the Pound had gained slightly against the Dollar. Put simply, as I type this, you get more Dollars for your Pound – or, looking at it the other way, less Pounds for your Dollar.

But what does this actually mean?

It means that if you have any old Dollar records in your collection, they are now worth less than they were before.

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