Originally Posted by James Martindale

I would hold on to your UK currency. I think it will bounce back sooner than expected. The £ has depreciated quickly because we have dropped interest rates quickly and implemented alot of economic measures because we know how much deep trouble we are in.

The impact of the global downturn on Canada I think lags behind the UK by 6 to 12 months,just like the fall in the global houseprice bubble. I personally am expecting the pound to recover versus the Canadian dollar next year as the Canadian government starts to implement more measures in their economy after they realise how exposed they are.