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
The Federal Reserve System Anyone who is in Banking & Payments and is a bit of a history buff, would know essential flow of how our money is made. I use the word flaw deliberately, because that is what it is. Money today is created out of thin air. It has been for decades now. There is no tangible commodity at the back end to cover it. It is all created at will and then pushed into the money supply. There is indirect taxation because of this, i.e. inflation that is a monster by...
Why State Bank of Pakistan's PRI (Pakistan Remittance Initiative) needs to be proactive. Their complacent manner is costing Pakistan Millions of Dollars worth of valuable Foreign Exchange. What is Remittance' The technical definition of the word Remittances varies from market to market. Financial Regulators have their own homegrown definitions for it. Here are a bunch of definitions for Remittance. Wikipedia's definition: (Source) A remittance is a transfer of money by a foreign...
TheÂ Japanese yen demonstrated mixed performance today. TheÂ currency gained onÂ theÂ US dollar, fell versus theÂ euro andÂ was flat against theÂ Great Britain pound after rallying earlier.(...)Read the rest of Yen Mixed During Mondayâ€™s Trading (135 words) Posted on Forex News.
Later this week, theÂ Fed will meet toÂ talk about interest rate policy. Forex traders are positioning themselves ahead ofÂ theÂ meeting, andÂ theÂ greenback is losing ground asÂ aÂ result. AÂ stronger dollar might be inÂ theÂ offing, however, asÂ expectations forÂ aÂ rate increase during September increase. (...)Read the rest of Greenback Drops as Traders Position Themselves Ahead of FOMC (119 words) Posted on Forex News.