I know the GB£ has fallen against the dollar and the Euro but on the whole the main currencies have not varied that much. Probably becuase all of the governments of them have bailed the banks out and all in as much trouble.
As I have said several times on this thread; there are more repercussions to come with the banks (bad debts - big time) and some of the financial instruments floating around (bonds) don't make a lot of sence to me.

I expect the shares eventually to fall dramatically; however saying that I would expect the banks to be in mega trouble then. This being becuase I suspect thet the banks have been giving the debts (probably a substantial amount to be proved later as bad debts) in exchange for in effect cash.
The banks found it safer for their Investment Banking Arms to play with this money than lend it to businesses and private individuals which makes sense. I therefore think the shares are way over priced unless somebody can explain to me why the FT100 was worth 3,800 in March 2009 and is now 5,700? Are these companies really going to pay dividends with pension fund deficits that need to be filled; slow sales as no credit availble etc etc. Just doesn't stack up to me! What am I forgetting.
I would also expect the Euro to fall when all the PIGS start getting to trouble and Germany exports don't reach expectations.
Oh; and maybe somebody could explain to me why Italy is not in deep deep sh!t as its finances do not make sense to me?