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
USD/CAD continues to point upwards on Tuesday. The pair broke above the 1.12 line on Tuesday, after Canadian GDP slipped to 0.0%. In the US, CB Consumer Confidence fell to 86.0 points, well short of expectations. The Canadian dollar has been no match for the US dollar, losing about 200 points last week. The loonie has stabilized since then, but remains under strong pressure. The currency didnâ€™t get any help as Canadian GDP posted a flat 0.0%, down from the previous release of...
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Greenback is heading higher again, thanks inÂ large part toÂ theÂ uncertainty andÂ unrest that continues toÂ plague theÂ world. Also helping theÂ US dollar is theÂ latest economic news, which is fueling speculation that interest rate hikes could come sooner rather than later. (...)Read the rest of US Dollar Strengthens on Uncertainty and Unrest (121 words) Posted on Forex News.
Japanese pensions hold key to Abenomics USD/JPY breaks through 109 aiming for 110 China PMI slightly higher just above expansion USD/JPY continues to climb towards 110 The comments from the Minister of Health regarding the country's Pension Fund gave some strength to the JPY in a week that otherwise was USD positive. The new comments that closed the week regarding changes to the pension fund's mandate and asset allocation weakened the currency. The USD/JPY has gained 4.9% in September. The...