Weak sterling a blessing, says inward investor

One of the UK's leading inward investors, Masahiro Sakane, chairman of Komatsu, the Japanese maker of construction and mining equipment, and formerly a strong supporter of euro membership has made a volte-face on the European single currency, expressing relief that the United Kingdom chose not to join.

However, in spite of the fall in the pound against the euro, many other inward investors have clung to a long-held view that they would prefer Britain to join the euro on the grounds that this would remove long-term uncertainty over currency movements.