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
TheÂ US dollar extended yesterdayâ€™s rally today asÂ positive economic data from theÂ United States fueled talks about aÂ possibility ofÂ anÂ early interest rate hike from theÂ Federal Reserve.(...)Read the rest of Dollar Extends Rally on Positive GDP & Jobless Claims Data (105 words) Posted on Forex News.
TheÂ Swiss franc erased its earlier losses against theÂ US dollar andÂ gained against theÂ euro today. TheÂ Swissie was experiencing upward pressure recently onÂ speculations that possible changes toÂ central bankâ€™s policies might lead toÂ issues with keeping theÂ currency-cap.(...)Read the rest of Swiss Franc Appreciates Ahead of Referendum (78 words) Posted on Forex News.
TheÂ Brazilian real jumped today following yesterdayâ€™s surprise interest rate hike from Brazilâ€™s central bank. Such decision resulted inÂ speculations that additional rate increases may happen inÂ theÂ future.(...)Read the rest of Brazilian Real Jumps After Central Bank Surprises (93 words) Posted on Forex News.
Canadian dollar is trading mixed today, thanks toÂ theÂ latest comments from central bankers. Information from theÂ Federal Reserve, asÂ well asÂ testimony from theÂ Bank ofÂ Canadaâ€™s Stephen Poloz, are contributing toÂ theÂ loonieâ€™s losses toÂ theÂ US dollar. (...)Read the rest of Canadian Dollar Trades Mixed Against Major Counterparts (136 words) Posted on Forex News.