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, November 21, 2014 In the last couple of days the Australian dollar has dropped sharply back through the support level at 0.8650 and is now threatening to remain below this level. It has rallied higher in the last 12 hours or so however it has met resistance at the key 0.8650 level. Prior to the strong fall, over the last week or so the Australian dollar has been able to rally higher and bounce off multi year lows around 0.8550 and in doing so has moved back within the...
The Canadian dollar has posted modest gains on Thursday, as USD/CAD trades at the 1.13 line. On the release front, Canadian Wholesale Sales jumped 1.8% in September. Over in the US, there have been plenty of key events to keep the markets busy. CPI and Core CPI met expectations, as CPI came in at 0.0% and Core CPI posted a gain of 0.2%. Unemployment Claims were almost unchanged, with a reading of 291 thousand. Philly Fed Manufacturing Index soared to 40.8 points and US Existing Home Sales...
TheÂ Great Britain pound was little changed atÂ theÂ start ofÂ theÂ current trading session, edging aÂ little lower against theÂ euro andÂ theÂ Japanese yen. TheÂ currency rallied yesterday due toÂ better-than-expected retail sales.(...)Read the rest of Pound Trades Mixed to Lower Following Rally (97 words) Posted on Forex News.
TheÂ US dollar was mixed today despite fairly supportive economic reports from theÂ United States. Still, theÂ currency managed toÂ reach new multi-year high versus theÂ Japanese yen before pulling back closer toÂ theÂ opening level.(...)Read the rest of US Dollar Mixed, Touches New Multi-Year High vs. Yen (114 words) Posted on Forex News.