Dubai's rout is GBP's gain

With Dubai announcing the First Sovereign Default of the current financial crisis, the world has been again gripped by fear psychology with further defaults being priced in probably from the eastern european countries - but in all this the gainer might be as remote as GBP. With Dubai loosing the sheen off its property and real estate , money would again flow to the centre of the world i.e. London. With property flows hitting London, and the development being backed by 2012 London Olympics, going Long GBP/USD makes a good trade