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 softened today after theÂ release ofÂ mixed economic data from theÂ United States. TheÂ currency trimmed its gains against theÂ Great Britain pound andÂ theÂ Japanese yen while against theÂ euro theÂ greenback demonstrated losses.(...)Read the rest of Dollar Softens After Mixed Data (123 words) Posted on Forex News.
TheÂ Canadian dollar had been falling against its US counterpart andÂ theÂ euro during theÂ most part ofÂ theÂ Thursdayâ€™s trading session. Yet asÂ ofÂ now, theÂ currency has managed toÂ erase losses versus theÂ greenback andÂ pare theÂ decline against theÂ currency ofÂ theÂ eurozone. OnÂ top ofÂ that, theÂ loonie rallied versus theÂ Japanese yen.(...)Read the rest of Canadian Dollar Firms by End of...
Late yesterday, Greek officials announced that they were drafting anÂ agreement forÂ their creditors. TheÂ news halted theÂ euroâ€™s slide, asÂ did anÂ interest inÂ theÂ 19-nation currency byÂ holidaymakers andÂ others. (...)Read the rest of Euro Slide Halts as Greece Claims an Agreement (146 words) Posted on Forex News.
The USD/CAD continues to climb higher as the USD rally keeps gathering momentum. The week started with a holiday for the U.S. and parts of Europe that resulted in thin volume. Yesterday with all markets online the USD started where it left off on Friday. Federal Reserve Chair Janet Yellenâ€™s comments continued to boost the USD that benefited from European uncertainty on the Greek debt front. The Bank of Canada rate statement was never intended to defend the CADâ€™s position as all...