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 ended this week with gains even though it looked like fundamentals were against theÂ US currency. TheÂ greenback was particularly strong against theÂ euro, andÂ this was surprising considering theÂ progress inÂ theÂ situation with Greece. AtÂ theÂ same time, theÂ dollar was unable toÂ beat theÂ Great Britain pound.(...)Read the rest of Dollar Ends Week on Strong Note, Defying Adverse Fundamentals (99 words) Posted on Forex News.
Fed sticks to lower for longer U.S CPI an excuse to buy more dollars Fed September hike fully priced in Central Banks rate announcements dominate proceedings As to be expected, the Fed dominated this past week. Although the markets did not get the anticipated price moves when Yellen was giving her testimony on the â€˜hillâ€™, that came on the back of Thursdayâ€™s U.S CPI, she has certainly been able to keep market guessing on the timing of rate lift off in the U.S. The Fed...
TheÂ Canadian dollar fell against its US counterpart today despite positive macroeconomic data from Canada. TheÂ currency also retreated against theÂ Japanese yen but gained onÂ theÂ very weak euro.(...)Read the rest of Rising CPI Doesnâ€™t Help Canadian Dollar (96 words) Posted on Forex News.
Todayâ€™s data from theÂ United States was rather mixed but it did not prevent theÂ US dollar from demonstrating anÂ impressive rally. TheÂ currency rose toÂ theÂ highest level inÂ aÂ month against theÂ euro.(...)Read the rest of Dollar Posts Substantial Gains After Mixed Data (103 words) Posted on Forex News.