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 Great Britain pound ended Friday with gains thanks toÂ GDP report that was inÂ line with analystsâ€™ expectations andÂ poor economic data from theÂ United States. TheÂ currency still ended theÂ week with losses versus theÂ euro.(...)Read the rest of Pound Ends Friday with Gains (93 words) Posted on Forex News.
European Bank Stress tests to be published Sunday BOE Minutes show dissent and lower for longer interest rate German PMI recovers but France still lags The European Bank Authority will release the results from tests designed to measure the financial strength of 150 of the EU's biggest banks. There have been reports that as many as 25 banks could fail the stress tests. The main goal of the tests is to reassure global investors that the European financial system is solid and there is no need...
Japanese trade balance deficit increases to 1.07 Trillion Bank of Japan says gradual JPY slide good for economy China's PMI rises but growth doubt persists Japan's trade deficit increased despite a positive growth in exports that could not overcome the rise in imports. A weaker currency gave exporters a boost but also made imports more expensive. Even with lower energy prices the growth in imports increased the deficit. The USD/JPY broke through the 108 price level as safe haven flows have...
TheÂ Norwegian krone gained today following yesterdayâ€™s decision ofÂ Norwayâ€™s central bank toÂ keep its benchmark interest rate unchanged. Such decision was widely expected byÂ market analysts.(...)Read the rest of Norwegian Krone Gains as Norges Bank Remains Passive (81 words) Posted on Forex News.