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
CAD rate cut â€œbuyâ€™s us timeâ€ Need time for lower oil prices to have impact BoC to wait on sidelines Higher crude temporarily supporting CAD Governor Stephen Poloz at the Bank of Canada (BoC) said nothing to upset the market balance in his speech in London this morning. The governor has been criticized by various sections of the market about miscommunicating the bankâ€™s message over the previous two months. In January, he surprised markets by cutting interest rates...
TheÂ euro sank today, losing most ofÂ its weekly gains versus theÂ US dollar andÂ erasing theÂ weekly rally against theÂ Japanese yen completely. TheÂ currency fell even though macroeconomic news from Germany was positive.(...)Read the rest of Euro Loses Weekly Gains (103 words) Posted on Forex News.
TheÂ US dollar is attempting toÂ stage aÂ recovery during theÂ Thursdayâ€™s trading session. ForÂ aÂ change, news from theÂ United States was positive, allowing theÂ currency toÂ regain some ofÂ its strength.(...)Read the rest of Dollar Attempts Recovery (113 words) Posted on Forex News.
TheÂ New Zealand dollar attempted toÂ rally against its US counterpart andÂ toÂ trim its earlier losses versus theÂ Japanese yen. TheÂ currency will likely have problems inÂ achieving those goals due theÂ unexpectedly good unemployment data from theÂ United States andÂ theÂ risk aversion caused byÂ geopolitical tensions inÂ theÂ Middle East.(...)Read the rest of NZ Dollar Endangered by US Data & Market Sentiment (90 words) Posted on...