The honeymoon period with the new Conservative government is over.
Sterling enjoyed a brief rally this summer, with a 2% rise against a basket of currencies of the UK’s major trading partners and rose around 9 cents to hover just below the USD $1.60 mark.Sterling has managed to perform relatively well because of the inherent weaknesses of other economies; the Euro was held back (the Greek economic crisis) and the US dollar has been suffering against every other major economy in the world as it struggles to shake itself out of the effects of recession.Now...
The UK National Statistics Office has reported that overseas spending by British holiday makers has dropped by 10%. However, at the same time, spending in the UK by foreign tourists has increased by 4%.
The UK was once regarded as the “workshop of the world”, and exports still account for a substantial portion of UK manufacturing and commercial activities today.
Transacting business overseas is a valuable commercial hedge against adverse market conditions at home as well as a mean of providing highly profitable opportunities to generate business growth.
Shop Around for Best Value Currency Exchange When Leaving the UK
AUD/USD for Friday, October 24, 2014 During the last few weeks the Australian dollar has done well to stop the bleeding and trade within a wide range roughly between 0.8650 and 0.88. Prior to that it had experienced a sharp decline throughout September which saw it move from close to 0.94 down to below 0.8650 and an eight month low in the process. Despite the current resistance at 0.88, it was able to move through to a two week high above 0.8900 a couple of weeks ago before recently falling...
The Australian dollar has been marked by choppy trading on Thursday, as AUD/USD is trading in the 0.87-range in the North American range. On the release front, Australian NAB Quarterly Business Confidence was unchanged at 6 points in Q3. In the US, jobless claims disappointed, jumping to 284 thousand. US Unemployment Claims rose to 284 thousand last week, much higher than the previous reading of 264 thousand. However, the markets were not too concerned, as the four-week average, which...
TheÂ US dollar jumped against theÂ Japanese yen today onÂ theÂ back ofÂ positive economic reports from theÂ United States. TheÂ currency also rose against theÂ Great Britain pound andÂ erased earlier losses versus theÂ euro.(...)Read the rest of Dollar Jumps vs. US with Help of Positive US Data (106 words) Posted on Forex News.
TheÂ Brazilian real dropped today, falling forÂ theÂ fourth consecutive trading session andÂ reaching theÂ lowest level inÂ five years against theÂ US dollar, asÂ theÂ outcome ofÂ theÂ presidential elections remains uncertain.(...)Read the rest of Brazilian Real Down to Five-Year Low (58 words) Posted on Forex News.